Technical Insider

PSEi weekly PSEi formed another black candle with lower low and lower high. On its way to test the previous resistance line now likely to be acting as a support level. Good luck to all traders!

PSEi = 2833.27 (-0.8%) PSEi formed a black candle with higher high and higher low. Volume decreased. PSEi was able to close previous gap down. PSEi closed near its low and at or below its 32MA. Bearish sign. PSEi also seems to have formed a bearish engulfing pattern. Careful traders...

PSEi = 2855.98 (+0.5%) PSEi formed a white candle with higher high and higher low with increasing volume. PSEi moved above the 32MA which hopefully will act as a level of support. Hopefully PSEi will try to test the 65MA at 2916. Good luck to all traders!

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...

PSEi = 2940.98 (-0.50%) PSEi again formed another black candle but with higher low and higher high. Volume increasing. There seems to be a support level forming at 2932. I hope it holds :) 32MA still acting as level of resistance. Parabolic SAR still signaling a possible rally or uptrend. Good luck to all traders!

PSEi = 2961.78 (-0.60%) PSEi again formed a black candle with lower low and lower high. Volume continues to decrease. 32MA still acting as a level of resistance. PSEi correcting or trending down to test support levels. Good luck to all traders...

PSEi = 2981.12 (-0.10%) PSEi formed a 3rd black candle with lower high and lower low. Volume decreasing. 32MA serving as a level of resistance. Good luck to all traders!

PSEi = 2867.5 (+1.8%) PSEi formed a white candle with higher low and higher high. Volume only half of previous trading day. PSEi seems to be bouncing/rallying/trending up. Good luck to all traders!

PSEi = 2793.68 (-3.9%) PSEi formed a big black candle with lower high and lower low. Volume decreased slightly. PSEi might have reacted to bearish outlook of the US stock market and the collapse of Bear Stearns. I hope PSEi manages to post gains today. I'm praying for a miracle that PSEi forms a higher high today :) Kindly look at the formation of the RSI with respect to the Price. Price has formed a lower low, but RSI did not form a lower low... slingshot anyone :) Good luck to all traders!

PSEi weekly formed a white candle with lower low and lower high. It seems like PSEi is on its way to test the slightly aggressive support or demand line. With the huge downward movement by the DJIA last Friday there is a potential that the local PSEi might head south also... Careful traders...

PSEi = 3129.99 ( +0.60% ) PSEi formed a white candle with higher high and lower low. Volume continues to decrease. PSEi rallies to once again test the possible aggressive supply or resistance line. Good luck to all traders!

PSEi (0.3%) PSEi formed a doji with higher high and higher low. Volume decreased slightly. PSEi trying to rally and test supply or resistance line. Good luck to all traders!

PSEi = 3079.54 (0.0%) PSEi formed black candle with lower low and lower high. Volume increased slightly. PSEi almost top shaven with long bottom... Bearish? PSEi continues to respect aggressive supply or resistance line... It also seems to have accelerated the rate of decline of the supply or resistance line... Bearish PSEi RSI (34.5) about to hit the lower limit of 30 and signal oversold... Careful traders...

PSEi weekly has formed a third straight black candle with lower low and lower high. PSEi weekly seems to be headed to test possible support line... Careful traders...