Monday, February 18, 2013

Week 8

Hello there!

Ibovespa didn't respected the fibonacci I drew in the chart and market is melting since first days of the year.

The future symbol has changed as I said in last post. It is now INDJ13 until April 17th.

What is giving me confidence now is that Petrobras - PETR4 - $PBR is making an 1-2-3 low and have a hook at 18.00. Its weight on Ibovespa makes me think that we could hold here or go higher from now on.

I really liked how this chart developed. I see divergence between price and MACD Line while it is crossing up.

I would take the trade if it breaks 18.00 and my stop is under 17.52

Have a nice trade!

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