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Topside Follow Through Lacking.....>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Topside Follow Through Lacking
*RES 4: Php50.941 - Bollinger band top 
*RES 3: Php50.840 - High July 25 
*RES 2: Php50.730 - High July 26 
*RES 1: Php50.680 - High Aug 9
*PRICE: Php50.575 @ 2300GMT
*SUP 1: Php50.550 - Low Aug 9 
*SUP 2: Php50.485 - High Aug 2 now support 
*SUP 3: Php50.250 - Low Aug 7 
*SUP 4: Php50.182 - Bollinger band base
*COMMENTARY: The recovery from the dip below the 55-DMA (Php50.232) has resulted
in a close above the 21-DMA (Php50.562) but the lack of follow through is a
concern for bulls. The Php50.485-550 support region is now key. Bears need a
close below Php50.485 to ease bullish pressure and shift focus back to
Php50.103-250 where 55 & 100-DMAs are situated. Bulls now need a close above
Php50.680 to confirm a bullish bias targeting 2017 highs.

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