Technical bounce for Philippine Stock Exchange Index?

Our index was able to slash more than 100 points of the bear’s score today showing some strength at the closing. The price movement creates a Hammer candlestick which may be the start of the reversal. In case there will be a rebound, our resistance will be at 6K which could be a very strong resistance at this time. Support still at 76.4% Fibonacci Retracement level. Are we going to fill the gap this week?

Caveat!

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