Market to test 6,700 barrier this week – The Manila Times

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“With the market run-up last week, we may see if it would break the 6,700 level resistance as market is in overbought condition.”

The market will be monitored if it would break through the 6,700-resistance level for this trading week after its strong rally last week, an analyst said.

Diversified Securities Inc. trader Aniceto Pangan in a text message said the market would be observed if it would manage to break its 6,700 resistance level for this trading week. “With the market run-up last week, we may see if it would break the 6,700 level resistance as [the] market is in overbought condition,” Pangan said.

Meanwhile, Pangan noted that any contention on the results of the recently concluded US presidential elections might instigate a market correction.

 

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