Support: 6225 / 6000
Resistance: 6400

With four breakouts in a row, this week has been a success for the local bourse. Around 400 points are gained since the start of the week, however, the indicator signals are still bullish. MACD histograms are risings, RSI lying in the overbought section, and the DMIs represent negligible buying pressure.

Due to the falling star, we can say that its on reversal. In the last 12 months, it was on Wednesday only that the PSEi went above its 200d MA. In this situation, the local bourse still showing an uptrend.

Volatility reaches the highest level, and it is expected that the resistance level might reach 6.400. One thing that is unpredictable right now is whether or not the pullback or breakout could be sustained by it.

Recommendation

Take profits

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