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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: Php52.596 - Bollinger band top 
*RES 1: Php52.478 - High May 21
*PRICE: Php52.270 @ 2300GMT
*SUP 1: Php52.071 - 55-DMA 
*SUP 2: Php52.049 - 21-DMA 
*SUP 3: Php51.742 - 100-DMA 
*SUP 4: Php51.715 - Low May 10
*COMMENTARY: Recent topside hesitation and a lack of follow through has seen
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
Php51.715-742 with the 100-DMA at Php51.742. Bulls now need a close above
Php52.677 2018 highs to reconfirm focus on Php52.940-53.071 last seen in July
2006.

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