PSEi - downtrend?

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PSEi = 3200.9 (0.7%)

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

PSEi still seems to be heading down. A saving grace though is the formation of a higher low with might be telling us that the bulls are trying to regain control. PSEi needs to form a higher high and higher low to give us a clear sign that the bulls have regained control.

PSEi still trading below the 32MA, 65MA, and 130MA. Bearish.

PSEi still has downward bias as can be seen by the supply line that I drew on the chart. PSEi needs to breakthrough this possible resistance line.

Good luck to all traders!


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