Figure 1. PSE Price Chart
Finally our PSE Index has finally broken the RSI resistance that I had mention in my previous post. I'm expecting our market to go higher and possibly hitting the 3,600 level soon. I estimated this value by projecting the CD leg of the possible AB = CD harmonic pattern.
Calculation: 3400-3100 = 300, then adding this to point C: 3300 + 300 = approx. 3600
I am expecting some market consolidation/correction as indicated by the Indicator Reading at the overbought area already.
No comments:
Post a Comment