The weakness of the Phisix is definitely NOT correlated to OIL prices for the time being! As in the chart above, Oil prices have weakened (red line) coincidental to the sagging Phisix. Meanwhile, the latest inflection top of the Phisix coincides with the inflection bottom of the US dollar (green line). So for analysts mouthing that the lethargy of the Phisix is oil related is definitely spouting bunkums.
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