Tuesday, December 29, 2020

Bearish View of PSEi?

 


A bullish technical analyst I stumbled in one FB trading group in 2015 turned recently into a bear. Perhaps, his experience of COVID-19 and the lockdown caused him to change his mind. As I evaluate his chart, I also looked back to the chart I made in December 2016. I overlooked the number of waves in ABC pattern resulting to a wrong counting. My only hesitation in joining him in his bearish outlook is the massive liquidity injected by governments worldwide into the financial market. 

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