Brazil Analysis

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Market Strategy - Increasingly Constructive On Petrobras - 06 JAN 2014

We continue to watch Brazilian state-owned oil company Petrobras with interest, and believe that the stock's break through a key area of resistance between BRL20.0-21.0 is a highly bullish signal that augurs well for further gains in the company's share price. In addition, although our Oil & Gas team believe it is too early to change its forecasts for the company, a shift in the tone of our...

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