PSE WEEKLY TECHNICAL ANALYSIS FOR APRIL 26-30, 2021

The $PSEI has weakened further as it didn’t get past the 6500 level and went down to 6378.07.

This is probably the clearest direction we’ve seen from the index in the last 2 months as it continues its downtrend and is further away from the last moving average, the 200MA at 6504. This also served as resistance. The MACD lines also reflect the trend with the fast line falling below the slow line again.

We should expect more of the same this week as there are no reversal signs or any encouraging signs for that matter. Trade carefully.

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