SET50 Daily Futures (October 3, 2022)

price trend SET50 Futures Index

swing down the stock marketaUS oilcontinue

Factors affecting SET50

Last FridayDow Jones Indexclosed minus 500 points (-1.71%) to 28,725 points as investors worried that the Fed would accelerate its rate hike.policy interestAfter the US Department of Commerce revealed that the price index for personal consumption expenditure (Core PCE) excludes food and energy for the month of August. which is a measureinflationFed focus rose 4.9% YoY, higher than the market’s expected 4.7% YoY.WTI oil Introduced in November, minus 1.74 US Dollars/barrel (-2.1%) to $79.49/barrel.
Barrel On higher-than-expected Core PCE numbers, investors worry that faster Fed hikes could lead to a fall.recessionimpact on the demand for oil meadow In addition, investors are waiting to follow up on the results of the OPEC Plus meeting on October 5, the latest this morning, reported Bloomberg.OPEC PlusHe is considering the possibility of cutting oil production by more than 1 million barrels, causing WTI futures prices to rise, most recently to $81.63/barrel.

medium term trend

expected medium term S50Z22 upward movement Short-term is more negative after failing to stand above 978. Assess support 942/930 and resistance 953/960/968/978/990. If it is above 953, it may turn up to the next resistance at 960/968. If it fails above 953, it may turn up to the next resistance at 942/930.

Mid Term Strategy (Week)

It is recommended to open a long S50Z22 contract at 942 support and close a position at 953/960 resistance with a stop loss at 937.

Factors to follow in the short term

Among the key factors this week are Wednesday night’s follow-up results.OPEC Plus meeting And on Friday night, the number of US nonfarm payrolls and US unemployment rates for September will be tracked.

SET50 short-term futures trend (intraday)

Last Friday, S50Z22 swings down, bounce back to a high of 959, alternately swing down to a low of 951.0 and close 951.8 S50Z22 fell stronger than the index, bringing the Basis between S50Z22 and SET50 on -2.64 points (Fair Basis Contracts S50Z22 and S50H23 are at +0.96 and -7.87 points).

Assess the contract maybe S50Z22 swing down. If it stands above the 945 support, it can swing up to the 953/958 resistance.

Short term strategy (within a day)**

It is recommended to open a long S50Z22 contract at 945 and close a position at 953/958 resistance with a stop loss at 940.

For those who have opened a long S50Z22 contract at 953 last Friday. It may have closed at 958 or if opened again in the afternoon at 953 recommend the closing position at 953/958 with a loss of stop at 948.

The strategy that is suitable for market conditions is a short-term (intraday) Strategy