PSEi - white candle with higher low

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PSEi = 3491.96 ( 0.70% )

PSEi formed a white candle with higher low and lower high. Volume decreased.

PSEi seems to be continuing to rally / trend up.

Failure to achieve higher high and increase volume leaves uncertainty to current uptrend or rally.

Careful traders...

From business.inquirer.net:
Shares close firmer as investors pick bargains
By Enrico dela Cruz of Thomson Financial

"MANILA, Philippines -- Shares closed firmer Thursday as investors chased bargains after a four-day selldown, with the rebound led by market heavyweight Philippine Long Distance Telephone Co. and a few other blue chips."

"Volume was thin, reflecting prevailing caution following Wall Street's lackluster performance overnight and ahead of the Philippine central bank's decision on interest rates later in the day."

"Four of six institutions polled by Thomson Financial are expecting the Philippine central bank to keep key interest rates on hold at its last meeting for the year. But policymakers are widely perceived to be keeping the door open for more interest rate cuts in 2008.Some economists said the central bank may pause on Thursday but extend its easing bias into the first half of 2008, with inflation seen remaining well below targets for this year and next. Others said the central bank might be compelled to act as soon as Thursday, after another cut in US interest rates earlier this month and in order to slow the rise of the peso -- Asia's best-performing currency so far this year -- against the US dollar. Five weeks ago the central bank cut its overnight rates by another 25 basis points to a 15-year low of 5.50 percent for borrowing and 7.50 percent for lending. The Nov. 15 rate cut was the third this year and the second in two months."

http://business.inquirer.net/money/breakingnews/view_article.php?article_id=108002

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