Pandrei1208

Philippine Stock Market Indices

Short
PSE:PSEI   PSEI INDEX
As you can see stocks declined since February due to Global conflicts and etc.

Fundamental Analysis Aside

Technical Analysis since feb indicates that PSEI has bearish signs then on march it showed a choch and a good retracement at an imbalance zone.
another confluence is the harmonic pattern formed at the daily time frame which is a butterfly harmonic , target price 1 already hit at point B of the harmonic pattern .

today it bounced at the demand zone voiding the break of structure as its body closed above the zone
if there is a reversal on 0.618 retracement and imbalance zone expect it will break the structure forming lower lows and higher highs next target is at -0.25 retracement price

the trend will continue for months
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.