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Bears Focused On Channel Base......>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bears Focused On Channel Base
*RES 4: Php50.515 - 200-DMA 
*RES 3: Php50.439 - 21-DMA 
*RES 2: Php50.350 - High Dec 22 
*RES 1: Php50.100 - Low Dec 21 now resistance
*PRICE: Php50.040 @ 2300GMT
*SUP 1: Php49.960 - Low Dec 27 
*SUP 2: Php49.770 - Low June 16 
*SUP 3: Php49.538 - Daily Bear channel base 
*SUP 4: Php49.440 - Low June 15
*COMMENTARY: Fresh 6mth lows continue with bears currently focused on the
Php49.440-538 support region where the bear channel base is situated. Bulls now
look for a close above Php50.100 to gain breathing room but a close above the
200-DMA remains needed to shift focus to Php50.810-51.030 where 55 & 100-DMAs
are situated. O/S daily studies are the key concern for bears with potential to
limit follow through.

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