Apr 172023

Bulls protected 165.30 last Friday and managed to push back beyond 166.00 but eventually closed flat at 166.00.

The bearish head and shoulders pattern seem to be intact. Neckline remains at 165.30 with initial support at 164.75 and an eventual target of 164.30. Be wary of whipsaws as this is most common.

Trader H

TraderH is a foreign currencies trader and a former Certified Securities Representative in the Philippine equities market. All posts herein are personal views and are not endorsed by any organization whatsoever. It is important that you practice due diligence in your trade plans. This website and its authors will not be held responsible nor liable to any of the reader's losses.

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