Figure 1: PSE Index Chart
It seems our index will extend its consolidation period this week. We may be able to still see it move sideways with key support around the confluence of both the 20 (red colored) and 50 (blue colored) moving average lines.Good thing is even though market is correcting, its market momentum is still strongly bias upward. I am hoping that this momentum will not dry out, so that our market will soon be able to finally resume its upward move. In case this happens, I am expecting too see an upward movement around first week of October.
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