SET50 Index Future Price Trend
Follow MPC, CPI and Fed decisions.
Factors affecting SET50
Yesterday, the Dow Jones lost 120 points (-0.31%) to close at 38,747 points due to buying pressure on Apple shares. Additionally, investors follow the CPI and the results of the Federal Reserve meeting. In terms of price direction, WTI oil closed for July supply at 0.16 US dollars/barrel (+0.16%) and ended at 77.90 US dollars/barrel, after the EIA increased its forecast for expansion in global oil demand. 200,000 barrels per year to 1.10 million barrels/day
medium term trend
In the medium term, S50M24 will be more bearish after failing to hold above 832. Assess the support level. 805/798*/786/773 and resistance 813/821/832/841/849 If it can stand above 805, it can reach resistance at 813/821, if it cannot stand above 805, it can move to support 798/786.
Medium Term Strategy (Week)
It is recommended to open a long S50M24 contract at 798 and close the position at 805/813 resistance level with stop loss point at 793.
For those who previously opened a long S50M24 contract at 805-805.3, they may have closed the position at 813.
Factors to monitor in the short term
Follow the results of the MPC meeting this afternoon. The market expects interest rates to remain stable. In addition, there were US CPI numbers last night, the market fell 3.4%YoY, and in addition, on Thursday morning, the results of the US Federal Reserve meeting were known. The market expects the policy interest rate to remain unchanged. But investors will follow the central bank governor's announcement. A look at signals about the direction of policy interest rates, including the Fed dot plot, can be negative if there are fewer interest rate cuts or delays in interest rate cuts.
SET50 Short Term Future Trend (Intraday)
S50M24 was volatile yesterday. It made a low of 805.3, then bounced back to a high of 814 and closed at 807.1, falling below the S50M24 index, resulting in -2.84 points between S50M24 and SET50 (fair basis), S50M24 agreement and S50U24 +1.06 and -2.73 points).
Assess that the S50M24 contract may fluctuate downwards. If it breaks above 805, it may rise to test the next resistance level 810/815.
Short Term Strategy (Intraday)**
Open a long contract S50M24 at 805 and recommend closing the position at the resistance level. 810/815 with 800 stop loss point
Those who opened long S50M24 contract yesterday at 808 can close the position at 813 or if open again at 808 in the afternoon, it is recommended to close the position with stop loss point at resistance level 810/815. 803.
Strategies Appropriate for Market Conditions: Short Term Strategy (Intraday)
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