Figure 1: PSE Index Chart
Last week the index consolidated to ease out short term overbought condition, just like what I am expecting it to do. For this coming week, I am raising a corrective warning as indicated by the RSI trendline break that may possibly bring the index towards the lower line of the channel shown in the chart before continuing to move up for the final run before a major correction. The index has a tendency to rebound this week but overall upward momentum continues to weaken.
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