Figure 1: PSE Index Chart
The index is now starting to fill the gaps I have mention on my previous post. Its now starting to form also the right shoulder of the possible Head and Shoulder pattern. Once we have a confirmation of that Head and Shoulder pattern, I will expect the index to at least hit 7,400. Right now the index is still short term overbought and still needs to correct or consolidate before continuing to move upward.. Its also starting to build up some upward momentum.
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