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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play

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Broad Sideways Trading Persists....>

DOLLAR-PHP TECHS: Broad Sideways Trading Persists
*RES 4: Php51.390 - Low Aug 18 now resistance 
*RES 3: Php51.295 - High Sept 15 
*RES 2: Php51.260 - High Oct 3 
*RES 1: Php51.257 - Bollinger band top
*PRICE: Php51.050 @ 2300GMT
*SUP 1: Php50.721 - Bollinger band base 
*SUP 2: Php50.720 - Low Sept 27 
*SUP 3: Php50.550 - Low Aug 9 
*SUP 4: Php50.480 - 100-DMA
*COMMENTARY: Broad sideways trading within a Php50.550-51.295 range continues.
Bears look for a close below the 100-DMA to confirm a break to the downside with
immediate focus shifting to Php50.110-250 where the 200-DMA (Php50.215) is
located. Bulls continue to look for a close above Php51.295 to reconfirm the
bullish bias and initially pressure 2017 highs. The Bollinger bands remain the
key concern for bears with potential to limit follow through.

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