PBR Petrobas Weekly Chart Downard-Sloping Channel Oversold Positive Divergence Potential Inverted H&S Pattern

PBR is basing and setting up nicely after its long-term beating. The green channel keeps dragging price lower and price is near the bottom rail once again.  Note the very strong positive divergence in play now. PBR is basing and after some near-term weakness on the daily chart plays out due to this latest drop, she should be ready to recover and move higher moving forward. This price now may very well serve as the low, and serve as a head for an inverted H&S moving forward. A right shoulder will be needed in the springtime or summer.  As everyone waits to see if the broad market falls, or not, PBR is a good one for the long shopping list, and also now set up as a nice long for anyone that wants to avoid risk and hold for the long term. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.