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Finds Support At The 20-Day EMA

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Bear Flag

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DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Php53.147 Support Remains Key
*RES 4: Php54.817 - Daily Bull channel top 
*RES 3: Php54.325 - High Dec 2 2005 
*RES 2: Php53.990 - 2006 High June 16 
*RES 1: Php53.736 - 2018 High June 26
*PRICE: Php53.467 @ 2300GMT
*SUP 1: Php53.250 - Low July 7 
*SUP 2: Php53.147 - High June 12 now support 
*SUP 3: Php52.945 - Low June 12 
*SUP 4: Php52.773 - High May 30 now support
*COMMENTARY: Follow through has been lacking on recent 2018 & 12+yr highs which
is less than ideal for bulls. Bears continue to look for a close below Php53.147
to hint at a move back to Php52.267-771. Bulls take comfort in the recovery from
dips below the 21-DMA (Php53.406) that reconfirms immediate focus on
Php54.325-817 where Dec 2005 highs and the bull channel top are situated. Bulls
now need a close above Php54.325 to add support to their case.

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