The PSEi is on its 2nd day of decline after finding resistance on Tue May-20. We need to be watchful for a direction to develop in the short term trend and of any near term breaks outside the new resistance level of 2903or the 2712 support level.
TRENDS
* MAJOR UPTREND | Corrective wave | Prior support 2034 Jun-2006 | Prior resistance 3897 Oct-2007 |
* INTERMEDIATE DOWNTREND | Directional wave | Prior support 2712 | Prior resistance 3051 | Broken trendline | MACD and RSI bullish divergence
* UNDEFINED MINOR TREND | Downswing | Prior support 2712 | Prior resistance 2903 |
PRICE AND TURNOVER
* Close: 2,838.58 * Change: -33.87(-1.18%) * Value: 2,143,417,000
MARKET BREADTH
* Net Advancing Issues: -26 * Net Up Volume: 711,838,040 * Net Foreign Buying: -103,604,279
TRENDS
* MAJOR UPTREND | Corrective wave | Prior support 2034 Jun-2006 | Prior resistance 3897 Oct-2007 |
* INTERMEDIATE DOWNTREND | Directional wave | Prior support 2712 | Prior resistance 3051 | Broken trendline | MACD and RSI bullish divergence
* UNDEFINED MINOR TREND | Downswing | Prior support 2712 | Prior resistance 2903 |
PRICE AND TURNOVER
* Close: 2,838.58 * Change: -33.87(-1.18%) * Value: 2,143,417,000
MARKET BREADTH
* Net Advancing Issues: -26 * Net Up Volume: 711,838,040 * Net Foreign Buying: -103,604,279
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