Figure 1: PSE Index Chart
We had a very boring market last week. I am expecting a possible pullback towards its breakout point but did not materialize. Momentum is still strongly bias sideways to toward direction. Negative thing is the index is now entering the overbought condition which increases the likelihood for our index to continue consolidating/correcting this week. It is better to stay out of the market as long as the RSI resistance is not yet broken.
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