Figure 1: PSE Index Chart
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Our market was a sleeper lasts week. A lot of traders were in the sideline due to the many negative global news which had affected our local market.
The markets upward momentum lasts week had significantly drop and is now slightly bias to the downward direction. Good thing is both the 20 MA (red line) and the 200 MA (green line) are solidly holding our market. There is still some probability that our market will be moving sideways this week. The market must buildup a solid momentum and break the major resistance at ~3890 for it to become more bullish. |
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