Figure 1: PSE Price Chart
Just like what I have been expecting our local market rebounded from its major trendline last week. One thing I don't like about this rebound is that its momentum is still strongly bias downward. This may hinder the ascent of our market. I am posting the level near 4,200 as the immediate target of our PSE. But prior to reaching this target it must first break its short term trendline resistance (shown as the dash red line). Good thing is our market still has some room to move up and the RSI is showing some early positive signs as it was already able to break its trendline resistance. Lets just hope the RSI breakout is not a false breakout.
Advance Happy New Year to all.
No comments:
Post a Comment