thanks mucho voiyong and master bonner for the enlightening chart analysis, but i have some questions if you guys dont mind my ignorance, where do you see the new resistance level of 3160 from the chart and re the lower resistance level and channel that master bonner was mentioning, i cant clearly see it in the charts. will the rally that you mentioned master bonner come only once and it will be a sort of a series?

QUOTE:
thanks mucho voiyong and master bonner for the enlightening chart analysis, but i have some questions if you guys dont mind my ignorance, where do you see the new resistance level of 3160 from the chart and re the lower resistance level and channel that master bonner was mentioning, i cant clearly see it in the charts. will the rally that you mentioned master bonner come only once and it will be a sort of a series?

Well MRSY, ur welcome

The 3160 rebound target is actually the support of the channel that is now the resistance. Medyo nagkamali lng magexplain ko above...pero i think parehas target nmin ni master

para mas makita mo yun CHANNEL...i will post a magnified chart with a shorter time frame.

Yun may Black Circle is the 3160 resistance, w/c is the support of the channel that we are referring.

While yun Blue na Circle nman is the 38.2% retracement, w/c is at 2885.84, w/c is also the width of the Channel projected downward...giving us the same target. So the support of PSEi as of the moment is 2885.84 while the resistance is between 3160 to 3200...shempre as time goes by...tumataas yun resistance

Opinion lang po ang sakin ha? could be wrong pls verify

While this is the weekly to magnify our support and target...

So far we have a bullish week...

PSEi opened high, and closed at the same level. There was a sell-off during the week...but the market still manage to closed it back near the high of the week. The weekly OHLC Bar chart looks like this "T" hehehe

The DEMAND managed to be stronger than the SUPPLY to be able to stand at the same level it opened last Monday

Sorry Im nt really good in expressing myself

Just check the chart...

Thanks Voiyong, I think you have expressed it perfectly.

Looks like the Price consolidation is converging and Volume is diminishing

Too short for a Symmetrical Triangle but we can't ignore that price movement is converging...so its really bound to decide soon whether to rally up or breakdown...

Sana wag lang inverted Pennant ito tpos yun pole invisible kasi GAP DOWN...at GAP DOWN uli next pole... hehehe

I really hope Im wrong

A good analysis Voi!

Do hope BULLS will win this fight. Most probably im betting on the BULLS! 8)

What do the other master say?