PSE Market Outlook (15 Mar 2023) by Regina Capital Development Corp.
After a short breather, the index fell from 6700 to 6300 levels. The index has now started falling from its last MA support.
After a short breather, the index fell from 6700 to 6300 levels. The index has now started falling from its last MA support.
Sentiment may take its cue from assurances given by Pres. Biden, that the issues on SVB & Signature Bank would be contained.
Expect volatility as participants assess regulators’ prime moves to isolate & address the capital-raising issue that has weighed on Silicon Valley Bank (SVB) Financial Group.
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Will the bulls once again defend this area? The PSEI is now heading back towards its MA 100 support with MACD on a prolonged bearishness.
The bears continued to dominate last week with the PSEi closing below 6,600 anew.
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