PSEI BREAKS THE 7200

The local stock barometer has now declined by more than 20 percent from the record finish of 9,058.62 on Jan. 29, 2018. To confirm a reversal of the 11-year bull cycle, the index must stay within the bear zone, or below 7,200. We believe the PSEI will be able to hold at 7000 level.

TECHNICAL CHARTS

Critical Support level @ 6800 – Last night US market recovered after a bloodbath of 600points. We believe a Pullback today before an major fall.

KEY TAKEAWAYS

  • Don’t rush to the market yet; things are still fragile in China
  • Death Toll is higher then SARS now – READ MORE
  • PSEi will test the 7000 support or even as low as 6800
  • Fundamentals of Philippines are all in in-tact for now

FINWAZE TEAM



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