Figure 1: PSE Index Chart
Last week I was so lucky enough to sell before the big market correction. Hope you guys are able to protect your profits also. Now for this coming week, I am expecting the market to finally recover. Looking at our chart above it is telling me of a possible bullish AB = CD Pattern. But lets not get too excited, for we don't have a valid confirmation yet of the market reversal to the upside. Presently the markets momentum is still strongly bias to the downward direction. Ideally the pattern's possible price reversal zone is located around the 3942 - 3860. However, just in case the market still continues to drop, it would be much safer to enter around the 2860 area . Right now our other indicators are telling me that the market is now at the oversold area and is nearing the state of recovery. (caveat)
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