Don't Ignore This Chart

Petrobras (PBR) Takes Out The 40 Week Moving Average

With everyone jumping on the emerging market trade, Brazil has recently shot up to new 9-year highs on the local market chart. Petrobras (PBR), one of the biggest energy companies operating in Brazil is making a moving now too. It is taking out the 40 Week Moving Average.

With a surging SCTR and the support of the 40 week MA under the stock, this looks like a nice way to participate in the emerging markets.

The Market Outlook with Tom Bowley and Greg Schnell will be on Saturday September 9th, 2017 @ 11:00 AM EDT. Click here to register.

Good trading,
Greg Schnell, CMT, MFTA


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