Sunday, January 8, 2012

PSE Index Chart Analysis for the Week (January 8 to 14, 2012)

Figure 1: PSE Index Chart

Last week our index finally hit my expected target of 4500. Right now it is encountering some major resistance along its previous major trend line. It also presently at overbought area as indicated by my two indicators below the chart. For this week I am expecting our index to somewhat correct possibly towards the 4400 area.

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