Were probably in wave 4 of wave the big wave 5.
16.29 is a good target based on both fib extensions of smaller and larger waves.
the small wave 2 retarced to 618 so the 4th wave should retrace low.
So I think buying a market buy is a good trade at the moment
Petrobras has seen an 80% rally through March, which is unsustainable. The reason for this is because the rally is based on the possible [ impeachment of president Dilma Rousseff, whose policies adversely affected the Brazilian oil market. While this is good news for the Brazilian oil company, the fundamentals of the company simply do not fit with...
Petrolo Brasilerio was founded in October of 1953 to operate in the Brazilian oil sector. The company is a mixed capital corporation that operates in the exploration, production, refining, commercialization, transportation, import, and export of oil and oil products. It also operates in the natural gas segment, in oil product distribution, in petrochemicals, and...