Asian markets mixed as doubts emerge over trade deal…

Asian markets were mixed in early trading Tuesday, as investors grew wary as they waited for more details about last week’s agreement for a partial trade deal between the U.S. and China. Doubts emerged Monday amid reports that Chinese officials wanted more talksbefore signing the so-called “phase one” deal. U.S. tariff hikes on about $160 billion in Chinese goods, scheduled to take effect in December, are apparently still on track, although tariff hikes on $250 billion of Chinese goods that were to take effect this week were postponed. A more comprehensive trade deal will come in three phases, President Donald Trump said, with the mode divisive issues to be tackled at a later date. Market will continue to be cautious

TECHNICAL CHART OF PSEI

KEY POINTS

  1. Price flirts @ MA200
  2. The StocRSI also shows signs of downside
  3. Re-tracement need to watch if the price falling below the support or it is forming H&S Bullish Pattern

We stay cautious for now.

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Article by: Ashok – Strategic Coach & Mentor – Philippine Stocks

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