Figure 1: PSE Index Chart
Last week the index, successfully corrected after forming a bearish AB=CD pattern. For this week I am expecting the index to resume its upward movement. My reason for that is the index had formed a bullish tweezer bottom candlestick pattern right at a significant support area which indicates a possible reversal zone. Aside from that the index is also short term oversold which increases the likelihood for a continuation of its upward move. Momentum also have remained strongly bias upward. God bless our trades.
No comments:
Post a Comment