Figure 1: PSE Price Chart
I love what I am currently seeing with our local index. Despite of the market correction our PSE has continued to move upward. The previous two hammer candlestick patterns signifies that our market has a very big possibility to resume its upward move this week. It is also at the oversold area of my indicator. The presence of a strong major support line around 3959 to 4000 is already confirmed by the Fibonacci 23.6% retracement line. To summarize, our PSE index is now signaling a BUY.
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