PBR is in an ascending wedge while USOIL prices are falling.

9 Tem 2016

PBR is in an ascending wedge while USOIL prices are falling. PBR is testing resistance at $7.50 for the third time. USOIL tested support at $46 for the third time and broke down through that support. It now appears to be in a downward channel. Being new to this, I opened a short position on PBR two days ago and added to it yesterday. Ideally, I should have waited until PBR breaks downward . I will short PBR hard if it breaks down while USOIL is also falling.

I am new to this with no track record of success. Don't make any trades based solely on my posts.

9 Tem 2016

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Added relevant links.