Saturday, April 12, 2008

PSEi weekly - bearish engulfing



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PSEi weekly formed a black candle with lower high and lower low.

PSEi weekly seems to have formed a top for the recent rally or uptrend.

A reversal pattern: the bearish engulfing seems to have been formed. It will be confirmed by the formation of a lower low and lower high for the next trading week.

PSEi seems to be forming an aggressive supply or resistance line.

PSEi seems to be headed to test the possible aggressive demand line.

Careful traders...
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