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Bears Need Close Below 21-DMA......>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bears Need Close Below 21-DMA
*RES 4: Php52.940 - High July 25 2006 
*RES 3: Php52.677 - 2018 High May 15 
*RES 2: Php52.573 - Bollinger band top 
*RES 1: Php52.355 - High May 17
*PRICE: Php52.223 @ 2300GMT
*SUP 1: Php52.056 - High May 10 now resistance 
*SUP 2: Php52.048 - 55-DMA 
*SUP 3: Php52.037 - 21-DMA 
*SUP 4: Php51.715 - Low May 10
*COMMENTARY: Recent topside hesitation and a lack of follow through has resulted
in a sharp sell-off that sees pressure return to 21 & 55-DMAs. Bears need a
close below the 21-DMA to confirm an easing of bullish pressure and initially
target a correction back to Php51.400-715 with the 100-DMA at Php51.646. Bulls
now need a close above Php52.677 2018 highs reo reconfirm focus on
Php52.940-53.071 last seen in July 2006.

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