Figure 1: PSE Index Chart
Last week our index suffered a big loss. I was expecting the 4135 to hold but unfortunately it didn't. Due to the unfavorable global market condition our index has finally entered the bear territory. For this coming week there is a big probability that our market will rebound to correct extremely oversold conditions. I am not expecting much of the market though for the projected target for both the Head and Shoulder pattern and the A-B-C correction is approximately the 3725 area.
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