Thursday, June 26, 2014
PSEi update 2nd time to encounter 6900 resistance 6-27-2014
PSEi encountered again it's resistance around 6900. It was his 2nd attempt to retest this resistance, and failed again.
I believe we have no rush to get above 6900, and must do sideways pattern to gain strength.
A breakout of 6900 will eventually have a target of 7200-7400.
Short term support is around 6670 then 6600.
Medium term support(in blue uptrend) is now at 6518.
Worst case when 6518 breaks down, a downside target of 5800 which falls exactly to the Long Term uptrend line since 2009.(don't worry, very low chance as of this moment). haha
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PSEi
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