Regina Capital Development Corporation

After hitting its support, the PSEI has moved higher this past week where it went past MA 260 and now trying to take over 6,636 which is its next resistance.

After topping out at its SMA 260, the PSEi appears to be heading downwards but with indicators being a little bit better as compared to last month.

Today would be a critical day for bulls as we will be seeing if prices can hold these levels for a chance to continue on next week or will we see a massive drop

After a short breather, the index fell from 6700 to 6300 levels. The index has now started falling from its last MA support.

Will the bulls once again defend this area? The PSEI is now heading back towards its MA 100 support with MACD on a prolonged bearishness.

The PSEI is now heading back towards its MA 100 support with MACD on a prolonged bearishness.

The PSEI opened this month with bulls being able to defend 6,600 levels! This could mean that

March starts with the bulls holding well in 6,600. MAs are still mixed with weak attempts to raise prices up above 6,600.

This week would be interesting to watch as the index has been forming doji candles for two days now which could mean either a consolidation or a big downside if price cannot still go above the MA 260.

As the market closed on Thursday due to a holiday announcement, the PSEI ended on a bearish run this week as it goes towards the middle of 6600 levels.

The local bourse traded flat, plunging by -0.09% or -6.18pts to 6,815.91 during the prior session as market participants played tug-of-war.