SET50 Futures Index price trend
Swing upwards, foreign net purchases increase
Factors affecting SET50
Last Friday, the Dow Jones Industrial Average closed down 28 points (+0.08%) to close at 33,978 points after the December Core PCE Price index rose 4.4% YoY, in line with market expectations. In addition, investors are waiting to follow the outcome of the Federal Reserve meeting on Wednesday evening. Regarding the direction, WTI oil for March delivery fell 1.33 US dollars / barrel (-1.6%) to 79.68 US dollars / barrel. From previous profit-taking pressure at the start of the month, it rose more than 10%, with investors waiting to follow the results of the OPEC Plus meeting on February 1.
The market expects OPEC Plus to maintain its current policy of cutting production by 2 million barrels per day until the end of 2023.
medium term trend
In the medium term, S50H23 is expected to move upwards. More negative in the short term after failing to stand above 1003, assessing support. 996/986/972/962 and objection 1003/1012/1022. If it can stand above 996, it can turn up to the resistance at 1003/1012. If it cannot stand above 996, it can turn down to the support at 986/972.
Medium Term Strategy (Week)
Recommend going long S50H23 contract at 996 and closing position at 1003/1012 resistance with stop loss at 991.
For those who opened a S50H23 position at 996 last Thursday, it is recommended to close the position at 1003/1012 resistance with a stop loss at 991.
Factors to follow in the short term
Key factors on Wednesday evening followed the outcome of the US Federal Reserve meeting, with the market expecting a rate hike of 0.25% and the OPEC Plus outcome. Tuesday also follows China’s Manufacturing PMI for January.
Trend SET50 Futures Short (In-Price)
Last Friday, S50H23 oscillated, slowing to a low at 994.0, reversing to a high at 1001.8 and closing at 1000.0, with S50H23 rising less than the index, causing the basis between S50H23 and SET50 to be – 3.12 points (Fair and S50H S50M23 contracts are at -7.66 and -10.14 points).
Assessing the S50H23 contract may change If it can stand above the 1000 support, it can swing up to the 1005/1010 resistance.
Short Term Strategies (Within a day)**
Recommend going long S50H23 contract at 1000 and closing position at 1005/1010 resistance with stop loss at 995.
For those who opened long S50H23 contracts at 998 on Thursday and 995 on Friday. He may have closed the position at 1000
A short-term (intraday) Strategy is a strategy suitable for market conditions.
