PSE Index Chart Analysis for the Week(August 4 to 10, 2013)

Figure 1: PSE Index Chart

The index right now is located near critical major support. A break of this support will bring the index down to the 200 MA line or the 6340 level. However, there is some possibility that this major support will hold given the index right now is already at oversold level. Momentum upward continues to slow down.