Figure 1: PSE Price Chart
Our PSE was able to finish the week in a bullish passion. For me the market correction is over and I am expecting a rally or perhaps a santa rally this week. My main reason for this is that we are now at the major trendline support which acted historically as major support for our market. Our market simply reverses/bounces upward every time it touches that area. Another thing to note is the 4000 level which is a major psychological support. Many analyst are watching this level closely. Lastly the market is already at the oversold area and is ripe for the taking.
Last Thursday and Friday was a shopping day. I have already given this hint to most of my fellow istoryans. Hope you guys was able to buy some good stocks for the coming week. Again this is just my own analysis and opinion of the market. Trade the market at your own risk.
Merry Christmas to all!!
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