short term strategy (In a day)** Swing down, recommend a long S50M23 contract at 947 and close the position at 952/957 resistance with a stop loss at 942.
short term strategy (In a day)** Swing down, recommend a long S50M23 contract at 947 and close the position at 952/957 resistance with a stop loss at 942.
SET50 Futures Index price trend
swing down, foreigners sell net European bank concerns
Factors affecting SET50
Last Friday, the Dow closed 132 points (+0.23%) to close at 32,237, according to Fed officials such as St Louis Fed President James Bullard. expressing confidence that the banking system was not facing a liquidity crisis Considered a positive factor for the direction of the US stock market, offsetting the negative factor from the German Deutsche Bank news, which fell sharply after the Credit Default Swap ( CDS), Deutsche Bank’s debt hedge, rose to its highest level in four sessions of the year, in the direction of oil, WTI sent
April deliveries closed down 0.70 (-1.0%) USD / barrel, closing at 69.26 USD / barrel. Concerns about the banking situation in Europe and the United States could affect the economy and global demand for oil.
medium term trend
In the medium term, we expect S50M23 to change more positively in the short term after breaking above 945. Support is assessed. 950/942/938/928 and objection 957/965/972/980. If it can hold above 950, it may turn up to resistance at 957/965. If it is still not above 950, it can swing down to 942/938/928.
Medium Term Strategy (Week)
Recommend opening long S50M23 contract at 942 and closing position at 950/957 resistance with stop loss at 937 points.
Factors to follow in the short term
Tuesday evening follows the US Consumer Confidence Index in March. The market was expecting 101.0 on Wednesday evening, following the close of US home sales for February. and a weekly stock of crude oil
Trend SET50 Futures Short (In-Price)
Last Friday, the S50M23 swung down, rebounding to a high at 961.2, switching to a low at 952.1 and closing at 952.5, with S50M23 rising stronger than the index, causing the basis between S50H23 and SET50 to be -7.91 points. (Fair Basis , S50H23 and S50M23 contracts are at +0.17 and -3.51 points) S50M23 contracts may turn down. If it can stand above 947, it may turn to resist 952/957.
Short Term Strategies (Within a day)**
Recommend going long S50M23 contract on 947 support and closing position on 952/957 resistance with stop loss at 942.
For those who opened a long S50M23 contract at 954 last Friday, they may close the position at 960 or if they open again in the afternoon. It is recommended to close the position at the 954/960 resistance with a stop loss at 949.
A strategy suitable for market conditions is a short-term (in-day) strategy
Note The S50H23 contract will expire on March 30. Recommend opening a new position in the S50M23 contract instead with a spread of around 3 points.
