Figure 1: PSE Index Chart
Sorry guys, I wasn't able to update my blog for a couple of weeks for I've been busy lately. Anyway, for this coming week I am expecting for some correction in our index to occur because it is already short term overbought. Aside from this it is now encountering some major resistance. Both the Fib 50% line and its down sloping RED trend line is acting as key major resistance. I need to see that trend line as well as the RSI 60 broken before considering our index as already bullish. Momentum upward is still weak.
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