Iranās latest attack on Qatarās energy hub and KSAās interception of missiles fired at Riyadh might cast its weight on sentiment, reinforced by the US Fedās warning of higher near-term inflation as a result of the ongoing Middle East conflict.
JFC rebounded +2.53% after forming a recent lower-low, as price stays below all key moving averages.
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 equitiesā 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).
URC edged up (+1.02%), moving below key moving averages as it consolidates at 67-69 levels after the recent decline.
The index closed lower, down 0.73%, as it moves marginally below key moving averages.
Profit-taking may continue, as sentiment glides with headlines on the Middle East.
Recovery is likely to continue, having come off from its recent high, on supply situation assurances from fiscal and global authorities.
BPI edged up to 103.00, maintaining a downtrend structure and trading below key moving averages.
ALI edged up +0.52%, yet price action is still favoring sellers with price holding below the falling MAs and pressing near recent lows.
The index rebounded +2.01%, after a sharp drop and attempts to reclaim MA100 overhead resistance, stabilizing near key moving averages after a strong intraday recovery.
DD is on its third consecutive day of gains, climbing back above its 9-MA.
Market participants may get feelers for possible rebound, given Pres. Trumpās latest word that the conflict in Iran could end sooner.
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