Wednesday, December 19, 2007

PSEi - hammer?

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PSEi = 3466.28 (-0.10%)

PSEi formed a black candle with higher high and higher low.

PSEi was able to close previous gap down.

PSEi seems to have confirmed the formation of a bullish hammer by achieving both a higher high and higher low, but formation of a black candle is a concern. It would put uncertainty to rest regarding rally or uptrend if PSEi manages to form higher high and higher low on the following trading day with a white candle and significant increase in volume.

Good luck to all traders!

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