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PSE WEEKLY TECHNICAL ANALYSIS FOR JULY 5-9, 2021
- By The Financial District
- Jul 5, 2021
- 1 min read
The $PSEI fared better this week as it ended the week at 7002.26, breaching the psychological resistance of 7000 again.
The 50-day moving average is racing upwards to the 100MA, but at the same time the 100MA and the 200MA are about to do a death cross.
The MACD lines show us continued correction mode. The Bollinger bands are also narrowing further.
It’s possible that a more definite break of 7000 would happen next week. That would serve many well but we have to be prepared for the opposite should it not push through.
Always be ready to take profits if you have them. Taking profits is never wrong.
WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC
