Figure 1: PSE Price Chart
I hope this is not what I think it is. Checking at our chart for the week, I don't like what it is currently telling me. Base on our chart it is telling me that there will be some major market correction that is going to happen in the next few days. There is a negative divergence and the major trendline support which is holding our market was already broken. The present market momentum is also still bias to the downward direction. If this is the case, what it may seem to be a market reversal may be actually just a mere market rebound due to the fact that it was already at the oversold area. This pattern can be invalidated only upon significant breakout above the trendline resistance. Be extra careful with the market. (caveat)
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