Figure 1: PSE Index Chart
The index is somewhat forming right now a possible double top pattern that once confirmed will have a possible TP around the 50 MA or to the 4917 area. Keep what on the major support line around 5030, once broken will confirm the pattern. Momentum also has shifted downward last week. On the positive side, the index is now located around a major support line and is now at short term oversold.
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