PSE WEEKLY TECHNICAL ANALYSIS FOR JUNE 28-JULY 2, 2021

The $PSEI recovered a bit this week as it closed higher for the week at 6950.51. A retest of 7k levels is to be expected.

With this latest rally, the index stays above all moving averages while the MACD is slowly reflecting its recent actions. One thing to note is that the Bollinger Bands are already narrowing. Be ready for a move soon.

Given that the $PSEI has recovered from below 6500 to its current level, it’s quite possible that it’s completing a bullish reversal pattern but we continue to observe how this unfurls. In the meantime, continue to trade opportunities that show themselves and hopefully profit from them.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC