PSE markets continue to drag down to fresh new monthly lows. It was at the 3800 initial long term support around 10am, but went down strongly when it fell down its support hitting 37xx. The current closing is near its 200MA of 3747. Will this be the bottom already? I believe we are 75% there, but cannot guess if this is really it, specially it went down to its initial long term support.
We have set various supports again for our very own (slightly manipulated market- Im refering to SMC,PCOR,SMB,PF and all other jackpot winners of the probable 2PO):
1. 200MA – 3747 (red line) (50% chance bottom for short term)
2. Short term downtrend support line of around 3700-3750 ( 50% chance bottom for short term)
3. 3550-3600 pts – Breakout point and Long term Uptrend line (100% chance of bottom for uptrend Support, but are we getting that LOW just to hit the bottom?)
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