PH Market Outlook | Oct 6, 2021 | Regina Capital

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The index is making yet another attempt to break the crucial 7k level. It has failed to do so for more than a month now after several pullbacks the closer it got to the psychological resistance. Note, indicators are surprisingly poised for a bullish convergence with the RSI signaling lower lows as the index treads slightly higher. All things considered, this may be just what the PSEi needs to fully breach the 7k level. Based on DMIs, it looks like the bears are losing steam. Buying momentum is starting to pick up. 

Support: 6,750.00 / 6,600.00
Resistance: 7,000.00

VIACristopher Adrian San Pedro
SOURCERegina Capital Development Corp.
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