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Above 200-DMA To Ease Bearish......>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Above 200-DMA To Ease Bearish Pressure
*RES 4: Php51.103 - 55-DMA 
*RES 3: Php51.030 - High Nov 20 
*RES 2: Php50.750 - High Nov 24 
*RES 1: Php50.483 - 200-DMA
*PRICE: Php50.370 @ 2300GMT
*SUP 1: Php50.140 - Monthly Low Aug 4 
*SUP 2: Php50.049 - Daily bear channel base 
*SUP 3: Php49.970 - Low June 20 
*SUP 4: Php49.770 - Low June 16
*COMMENTARY: Pressure on the 200-DMA took its toll with the first close below
since Sept 2016 adding weight to the bearish case. Immediate bearish focus is on
Php50.049-140. O/S daily studies and Bollinger base (Php50.216) remain key
concerns for bears. The 200-DMA is initial resistance with bulls needing a close
above to ease immediate bearish pressure and above Php50.750 shift focus to
Php50.923-230 where key DMAs are located.

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