Philippine Stock Exchange Index ( PSEI) update 02.02.2018
#PSEi Update: February 2, 2018
Markets closed up at 8,810
Up 0.82%
After the indecision candle, the market closed higher thus triggering an upward reversal. This would go up and try to challenge the resistance at 8,900. Should it go close to 8,900 and fail to break it, it would trigger another take profit signal for quick traders.
Momentum and price oscillators are still denoting a change in direction downward. The support is still pegged at 8,500. Failure to break 8,900 will just push for a drop to 8,500.
Breakout from 8,900 would trigger another shot for the market to go to our next target of 9,300.
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