Figure 1: PSE Index Chart
Last week the market completed our anticipated double top pattern and is now heading to break its previous resistance around 4320. Hopefully the index can break this resistance so that it can finally reach its all time high of 4400. The RSI is about to break its down trendline resistance (red line). This will be our signal that the overall index has finally resume its upward move. Our other indicator is telling us that the market has still some room to move up in the short term because it is not at the overbought area yet.
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