Figure 1: PSE Index Chart
Early last week the index had shown some weakness. A bearish divergence occurred. Luckily the index was able to find some support right at the 20 moving average line last Friday. It is now at the oversold area and is presently showing a hidden bullish divergence pattern. On the negative side, momentum is starting to accelerate downward. Keep watch this week if the index can recover back its upward momentum else if this continues the index will be in danger of breaking its upward channel. God bless to our trades.
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