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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).

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.

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.

Market participants may get feelers for possible rebound, given Pres. Trump’s latest word that the conflict in Iran could end sooner.

The PSEi plunged by 4.40% w/w to 6,320.41 (-290.83 pts), below 20-day and 50-day moving average, while MACD has also crossed below the signal line indicating a bearing momentum.

Profit-taking may continue, as market participants assess fiscal guidance on near-, medium- & long-term contingencies to address volatile crude oil prices.

The index closed at 6380.53, up by 1.15%, rebounding as it remains within the short-term pullback.