Chart Review - Philipppine Stock Exchange Index (PSEi) and the 161.8% Golden Ratio

The Philipppine Stock Exchange Index (PSEi) is down today by -91.46 points or -1.17%. As per Technical Analysis the index just respected the 161.8% Golden Ratio. If we don't go back above 8 EMA on the coming days  we might retest  7,500and if we stay above 7,500 level the index might go back to 8,000 level this year.

Support levels are at  7,656 and 7,500.

Resistance is seen at 7,800.

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