Figure 1: PSE Index Chart
For this coming week I am expecting our market to continue moving sideways to up while trying to consolidate and at least establish a base above 4250. Next resistance will be around ~4320. Even though our market has some room to move up this week, I am worried that if tries to move up to fast we may have to deal with a much bigger correction later due to fact that it is already overextended from our 20 day moving average (red line). Market upward momentum has also started to slow down since last week.
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