PSEi broke out of 6900 resistance and is now in the area of uncertainty, uncertain as there is no clear resistance where PSEi is going to hit next. It is bullish but must be very cautious.
The resistance area is very broad at around 7000-7400. An estimate of 7100-7180 is placed for the uptrend(in blue) resistance, then 7400 could be next in line.
I believe 7200-7400 is an area to look into as well, as most of the people got stuck here during the 2013 super rally.
NO RECOMMENDATION could be given at this moment in time due to ff reasons:
1. PSEi near all time highs have higher risk. Although can safely have a target of 7000-7400 based on technical breakout, we say it is a RISK ON.
2. US index now at all time high and projection targets are near, suggesting quick pullbacks could happen anytime soon.
Maintaining 75% cash
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