Looking at last Friday's intra-day chart of the PSEI, it was surprising to observe last minute buyers contradicting the normal small sell-off during the closing minutes on a Friday. Sell-offs usually occur before long periods of market recess as short term traders close all their positions in order for them not to worry on any negative developments during market recess.
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The close of the PSEI at 6891.34, after bottoming out and completing the cup and handle pattern, propelled the index at resistance. Now, it has to break current prices to confirm the bullishness of the trend. Should it fail, it may revisit the gap at 6745.
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