This is depressing for retail investors in the Philippines, the past few days were bloody. Here's a long term analysis according to me. Using wave theory on a monthly chart, the most recent peak(08/31/2011) is a wave B of a Flat, the B just went a little above 123.6% fibonnaci measurement of wave A. There is a little a chance that wave C will retrace all of wave B. The expected completion of downward wave C is on 2014, which will or will not retrace the 1600 level, 100% Fibonacci time is on June 2014, which means end of the bear market around that time of year. This is the outlook for now, no signs of reversal are seen as of now.
0 comments:
Post a Comment