Figure 1: PSE Index Chart
Our index consolidated last week, partly due to profit taking and recent weakness of DJI. Right now the index found some support along the 20 MA. The RSI indicator was also able to find some support. For this coming week I am expecting market to continue consolidating with some probability of a market rebound/reversal later in the week as market is nearing oversold area. Upward momentum is somewhat weak right now.
No comments:
Post a Comment