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Having crossed above the 6,000 zone, gauges may continue to rise, backed by reports of Iran’s review of US proposal to end the conflict.

The index closed +0.63% higher, respecting previous support price levels after a sharp pullback below all key moving averages.

Volatility may continue, as market participants assess PBBM’s state of national energy emergency declaration via whole-of-government approach.

Sentiment might take its cue overseas, following Pres. Trump’s order to defer military strikes against power facilities in Iran on reports of ‘productive talks’ with Tehran.

The index declined by -0.67% w/w to 6,018.62, approaching its 6,000 key support level, where a potential rebound could occur.

Expect volatile trades, with eyes locked on headlines in the Middle East.

Iran’s latest attack on Qatar’s energy hub and KSA’s interception of missiles fired at Riyadh might cast its weight on sentiment, reinforced by the US Fed’s warning of higher near-term inflation as a result of the ongoing Middle East conflict.

The index remained the downtrend structure modestly rising +0.32%, yet remained flat near support as the local bourse plunged below all key moving averages.

The spotlight might turn anew on mining/oil-related shares, given the bullish trend for metal prices.

Possible gradual bargain hunting might set in, as participants take their cue from US equities’ advance.

The PSEi fell 4.14% w/w, closing at 6,058.94 (-261.47 points), and is now trading below its key moving averages (20-day, 50-day, 100-day, and 200-day).