SET50 Futures Index price trend
Swing down, US stock market positive, foreigners sell
Factors affecting SET50
Last Friday, the Dow Jones closed 153 points (+0.4%) to close at 38,239 points due to strong buying in major technology stocks. such as Microsoft and Alphabet Although the Price Index for Primary Personal Consumption Expenditure (Core PCE) in March increased by 2.8% YoY, higher than the market’s expected 2.6% YoY, the WTI oil price direction to delivery in June was plus 0.28 US dollars / barrel
(+0.34%) and closed at 83.85 US dollars/barrel. This was after the Israeli army reported that the Israeli Air Force attacked an area in western Lebanon and killed an armed group that attacked Israel. It also increased the number of aerial photos on Rafah on Thursday. As a result, investors are worried about the oil supply situation.
Medium term trend
In the medium term, S50M24 is expected to fluctuate. In the short term, it will be more positive if it is above 821. Evaluate the support level. 821/810/798/788/775 and resistance 832/841/849/858 If it can stand above 821, it can swing up to the resistance at 832/841 If it cannot stand above 821, it may turn down to the 810/798 support.
Medium term strategy (week)
Recommend opening a long S50M24 contract at 821 and closing the position at the 832/841 resistance level with a stop loss point at 816.
Factors to monitor in the short term
Tomorrow, follow the official Chinese report on China’s manufacturing PMI for April. The market expects 50.3 In addition, tomorrow night we will follow the European Consumer Price Index (CPI) for March. The market expects 2.4% YoY, an important factor this week. That includes following up Wednesday night on the results of the Fed meeting and Friday night following non-agricultural employment figures and the US unemployment rate for April.
SET50 short-term futures trend (intraday)
Last Friday, S50M24 fluctuated, recovering to a high of 836.1, alternately slowing to a low of 829.6 and closing at 831.9, with S50M24 shedding less than the index, leading to the basis between S50M24 and SET50 at -1.79 points (Fair S50M24 and S50U24 contracts are +1.63 and -2.02 points)
Evaluate that the S50M24 contract may fluctuate downwards. If it holds above 827, it may turn up to test the next resistance level 832/837.
Short term strategy (intraday)**
Recommend opening a long S50M24 contract at 827 and closing the position at the 832/837 resistance level with a stop loss point at 822.
For those who opened a long S50M24 contract at 830 last Friday, we recommend closing the position at the resistance level of 832/837 with a stop loss point of 825.
The strategies that are appropriate for the market conditions are: Short term strategy (intraday)
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