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Bulls Need Close Above 200-DMA.....>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bulls Need Close Above 200-DMA
*RES 4: Php51.005 - 55-DMA 
*RES 3: Php50.953 - 100-DMA 
*RES 2: Php50.810 - High Dec 7 
*RES 1: Php50.516 - 200-DMA
*PRICE: Php50.240 @ 2300GMT
*SUP 1: Php50.100 - Low Dec 21 
*SUP 2: Php49.970 - Low June 20 
*SUP 3: Php49.770 - Low June 16 
*SUP 4: Php49.615 - Daily Bear channel base
*COMMENTARY: Bears take comfort from fresh 6mth lows Thursday although the lack
of follow through was less than ideal. Bears now focus on the Php49.970 support
with a close below to add weight to the case for a test of the bear channel
base. Layers of resistance are accumulating with bulls now needing a close above
Php50.340 to ease bearish pressure and above the 200-DMA to shift initial focus
back to Php50.810-51.030 where 100 & 55-DMAs are situated.

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