Figure 1: PSE Index Chart
Overall market is still trending down with a possibility of market reversal, as indicated by the RSI being able to already break its down trendline. However momentum upward is still quite weak and our oscillator still needs to hit the oversold area, indicating a possible continuation of the market correction this week. Index needs to break the 61.8% fib resistance while keeping prices above 5700 to 5795 for this possible reversal to remain valid at this moment.
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