PSE WEEKLY TECHNICAL ANALYSIS FOR MAR. 22-26, 2021

The $PSEI is showing that it may have begun its new round of down days to come as it

closed below the psychological support of 6500 when it ended at 6436.10.

With the latest close, we are now officially in bearish territory again as all 3 moving averages are now above the index. The MACD also shows weakness in the index as it has started to move lower.

Since the $PSEI has now sunk to the 6400 level, we are now looking at the next psychological support of 6300 with the major psychological support at 6000, in play. Unfortunately, that puts it still on target with the down side target of 4912.

You know the drill for this.

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