Kijun Sen may attract our index to hit 6000-6100

Our index continue to move up for the week and currently at 5,928. Will there be more rallies to come? There is a possibility index will continue to move but may find resistance before it will hit 6,100. The rise may be attributed to the Kijen Sen‘s magnetic power. As you can see this line is currently moving horizontally. This is the time when it can strongly pull the price to come near it. Price tends to move alternately away from and back toward the kijun sen in a cyclical fashion due to the kijun sen’s strong expression of equilibrium or stasis.

The rally may continue but as of this time it might be just for window dressing as Ichimoku system is still telling us that PSEi is in a downward trend. Minimize your greed.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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