Figure 1: PSE Price Chart
Our local market did exceptionally well the previous week. I was expecting it to retrace back to the trendline support on our chart but it didn't. The main reason for this is the huge momentum surge heading upward. This is an indication that many investors are actively buying and organizing their portfolio for the year. But we should still be watchful with the current market for it is still was not able to break its major resistance. Area of resistance can be found around 4221 to 4253. There is still some probability for it to retrace back to the trendline support this week.
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