PSE Market Outlook (31 Oct 2024) by 2TradeAsia
Expect volatile sessions with the month-end closing, as well as US elections next week.
Expect volatile sessions with the month-end closing, as well as US elections next week.
EW is showing signs of consolidation around 10.00, with its short-term MAs providing stronger support near 9.00.
CLI closed slightly above its MA-9 close with a red candle, touching upon 2.90 intraday.
GLO is at a huge sell-off, closing at 2100.00, down by -7.33% intraday, and -7.65% in the weekly timeframe, marking its second week of more than -6.00% decline.
BDO closed at 157, down by -1.88% intraday, below its 9-MA and 50-MA.
The PSEI closed at 7,239.98 yesterday, down -1.41% intraday, losing its grip on the recent upward trend.
Participants might err on the side of caution, with yesterday’s sell-off.
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