Looks like hoping in Philex already ends…
With the break of the uptrend line and the neckline of the double top formation with a minimum target of P6.50, all hopes for Philex seem to be gone (at least for the short term)…
Previous : P6.90
Last (07/04/08) : P6.60
Next support : P6.50
New Resistance : P7.00
But wait...
Look at RSI, every time it bounce from the bottom it's always accompanied with a rally.
How can we make money on this? For those who have a position in Philex (short-term) sell on this rally, for those who would like to enter Philex buy at the bounce off P6.50 and sell close to P7.00 (range trade)...Good luck!
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