The PSEi broke its major support line today. Is this the beginning of the end? It would seem not as the MACD are forming several rising troughs. The breaking of the said trendline only suggests that the market is slowing down to a more sustainable trend. With this being said, the market would simply move sideways for the meantime before heading back up again.
Breaking the secondary trendline would suggest further slowdown of the market.
Breaking down from the major support at 3870 levels would only suggest a deep correction(very deep in fact as it is pointing to 3500-3600 levels if it is an accelerated decline).
Market Condition: Sideways to down.
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