PSE WEEKLY TECHNICAL ANALYSIS FOR MAR. 15-19, 2021

The $PSEI continues to show weakness as it couldn’t get past the 7000 level and easily went down to end the week at 6728.55.

The index broke through the 100-day moving average at 6870 and may be starting its descent with only the 200MA in the way at 6438. The MACD lines have also shown weakness as it has started going down while it was still below the zero line.

With the $PSEI gearing to go down, it might be best to stay liquid if you can. Although there may be some opportunities, majority of it are with speculatives and it may not be fit for the regular trader. Be prudent with your trades.

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