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Bulls Need Close Above Php51.390...>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bulls Need Close Above Php51.390
*RES 4: Php51.630 - 2017 High Aug 18 
*RES 3: Php51.451 - Bollinger band top 
*RES 2: Php51.390 - Low Aug 18 now resistance 
*RES 1: Php51.295 - High Sept 15
*PRICE: Php51.100 @ 2300GMT
*SUP 1: Php51.040 - High Sept 13 now support 
*SUP 2: Php50.830 - Low Sept 11 
*SUP 3: Php50.805 - 55-DMA 
*SUP 4: Php50.726 - Daily Bull channel base
*COMMENTARY: The recovery from the dip below the 55-DMA has stalled ahead of the
Php51.390 resistance. Bulls continue to look for a close above this level to
return initial focus to tests of 2017 highs. Bears now need a close below
Php51.040 to ease pressure on Php51.390 and return focus to Php50.675-830 where
the daily bull channel base and 55-DMA are found. Narrowing Bollinger bands
initially suggest sideways trading before a breakout.

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