PSE WEEKLY TECHNICAL ANALYSIS FOR JAN. 4 - 8, 2021

It's becoming clearer that the $PSE:PSEI is curving lower as it has struggled to go up beyond the 7300 level and has settled at 7150.26 to end this very difficult year.

The 20MA is supporting the index but this won't hold for long and it will meet the 50MA at 6802 as the next support. Since November, the MACD has been showing a bearish divergence.

The divergence would probably explain why the $PSEI has been struggling and is now starting to show signs of a bearish reversal happening for the short term. Although the pattern is nowhere close to being complete.

As we end this challenging year, let's give thanks that it was actually a better trading year than last year. We hope that 2021 would be even better despite the pandemic. - Bonner Dytoc

WEEKLY FEATURE

JOSE MARI CHAN AND THE CHRISTMAS ANTHEM