PSE WEEKLY TECHNICAL ANALYSIS FOR DEC. 14-18, 2020

The $PSE:PSEI did better this week as it came close to breaking through 7300 as it reached 7304 but it ended the week at 7246.16.

The moving averages are now set up in the extremely bullish setup, which hopefully would lead to an extended run until next year. The MACD lines are still in correction mode but this might be more of a delayed reaction to the current run of the index.

The $PSEI needs to break above 7300 and sustain that run to make the uptrend convincing. There are a lot of opportunities showing themselves like they were getting ready for the next big move of the market, but all these might be useless if the index would have a hard time at the current area.

Consider taking profits before it escapes you. - Bonner Dytoc