Support: 7100 / 7000
Resistance: 7300 / 7400
The local bourse is still in the red but managed to form a slightly smaller and less volatile candlestick than what we saw earlier in the week.
This means that the PSEI’s range is still relatively stable, despite treading closer and closer to its support at 7,100.00.
Momentum is still flattish, so we maintain our previous recommendation to trade the range in line with the bourse’s consolidation.