Figure 1: PSE Index Chart Analysis
Happy New Year to all! So sorry I was not able to update my blog recently because I was so busy the past weeks. Anyway, what a very good start of the year for our index. It was able to break its recent resistance and created a new all time high. Upward momentum is currently so strong and as long as the index can maintain this momentum then we can see it move higher. The only drawback is, it is now at overbought area as indicated by both of our indicators, which increases the probability of a short term consolidation or correction. Best to our trades.
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