Asian Stocks to Track U.S. Higher; Treasuries Drop: Markets Wrap

Here are some key events coming up this week:

Investors are scrutinizing earnings, given the global backdrop of slowing growth and a host of unpredictable macro risks. While sentiment has been supported after some progress in trade talks between the U.S. and China, economic concerns remain. The International Monetary Fund made a fifth-straight cut to its 2019 global growth forecast, citing a broad deceleration across the world’s largest economies as trade tensions undermine the expansion. Why market will NOT move to the north?

PSEI TECHNICAL CHART

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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