Figure1: PSE Index Chart
The index has continued to move inside the box pattern and is now extremely consolidated. This type of consolidation signals an upcoming huge breakout move which can either be up or down. As of last Friday's trading the markets momentum has completely gone neutral. This is a "calm before the storm" scenario. Anyway, base on my RSI indicator, the index is trading above a major RSI support. As long as this is not broken I remain to be somewhat bullish with our index.
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