PSEi (Chart: Daily Resistance: 3315.61 Support: 3132.91)
The index moved further upward after a bounce from support near 3132. Last week, the index just moved sideways, unable to move further above the standing resistance at 3315 (dashed line) which is the long standing resistance from June 2008. So as of current, the resistance line from Jun 2008 has again proven its strength, moving above that line might not come in the near future given that the RSI is near overbought level again. Expect the index to move sideways anywhere in between 3132 and 3315.
The index moved further upward after a bounce from support near 3132. Last week, the index just moved sideways, unable to move further above the standing resistance at 3315 (dashed line) which is the long standing resistance from June 2008. So as of current, the resistance line from Jun 2008 has again proven its strength, moving above that line might not come in the near future given that the RSI is near overbought level again. Expect the index to move sideways anywhere in between 3132 and 3315.
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