Figure 1: PSE Index Chart
I wanted to share this amazing rare harmonic pattern. Upon farther examination of the chart of our PSE, I have notice that the CD leg of the AB = CD pattern which I have posted on my weekly PSE analysis is actually a bullish three drive pattern. The 3rd leg of this pattern is also an AB = CD pattern. For now I will be pegging my PSE target around 3923. This immediate target is the 38.2% of the Fibonacci retracement.
I am not sure how high this pattern will go in the short term, or if this pattern will really materialize and sustain its upward move. Lets just take this opportunity to grab whatever the market offers.
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