KGI Securities opened a long S50U24 contract at the support level of 805.

SET50 Futures Price Trend

Swings Down, US Stock Market Declines Foreigners Net Buying

Factors affecting SET50

The Dow Jones closed down 234 points (-0.60%) yesterday to close at 38,763 points due to selling pressure in technology stocks. Including the US government bond yield10, the index has risen since the beginning of the year to 3.968% due to weak response, with the bid-to-cover ratio, which measures investor demand for bonds, falling to 2.32 times, the lowest level since December 2022. Regarding the oil price trend, West Texas Intermediate crude closed in September at +$2.03/bbl (+2.77%).
At $75.23 per barrel and after the weekly announcement of a 3.7 million barrel drop in US crude oil inventories. Most of the market expected a 700,000 barrel drop and a 6-week decline. This is considered a positive factor.
Global Oil Trend In addition, yesterday the Kaew Klai Party was dissolved and the political rights of the party and the executive committee were banned for 10 years. Recently, the Thin Ka Khao Chaewlai Party was established. It is the new stronghold of the Progressive Party.

Medium term trend

In the medium term, S50U24 is expected to swing down, and in the short term, it is more positive after it managed to stand above the 802 level. Evaluate the support level. 810/802/795*/783/775 and the resistance 818/829/838. If it manages to stand above 810, it may swing towards the resistance.
At 818/829, if it can't hold above 810, it may swing down to support 802/795.

Medium Term Strategy (1 Week)

We recommend opening a long contract S50U24 at 802 and closing the position at the resistance level 810/818 with a stop loss point at 797.

For those who opened a long position at 795.7 last Tuesday. The position may close at 810.

Factors to watch in the short term

Tonight, follow the number of people applying for unemployment benefits in the United States this week, with the market expecting 241,000 cases.

SET50 Short Term (Intraday) Futures Trend

Yesterday, the S50U24 rose strongly. It immediately opened positive at 803.2, then bounced back to a high of 812.4 and closed at 811.8, with the S50U24 rising stronger than the index, bringing the base between the S50U24 and the SET50 to -5.9 points (fair).
The underlying contracts S50U24 and S50Z24 are -6.32 and -2.50 points)

Evaluate the S50U24 contract, it may fluctuate to the downside. If it stops above the support level of 805, it may rebound to the upside to test the next resistance level of 810/815.

Short term strategy (instantaneously)**

We recommend opening a long contract S50U24 at the support level 805 and closing the position at the resistance level 810/815 with a stop loss of 800.

Strategies suitable for market conditions are: Short-term strategy (intraday)