Support: 6900 / 6800
Resistance: 7103.53 / 7206.87
Index’s gains were capped at MOC, as it eventually closed at 7,065.55(+41.05 pts or +0.58%). During the session, the PSEi was almost able to touch the 7,100-level as its intraday high was at 7,091.92.
The uptrend on the index would likely be sustained, at least for this week, as most of the technical indicators have turned bullish: MACD bullish convergence and RSI on the buy region. Also, buying pressure is starting to pick up its pace.
At this level, resistance still rests at 7,103.53(MA50) while support is at the 6,900-mark.