US Presidential Election Looms: SET50 Index Futures Teeter as Investors Hold Breath

presidential election.” class=”img-fluid w-100 showcaption-false” style=”width: 838px; height: 251px;” width=”838″ height=”251″ loading=”lazy”/>

Medium term trend

In the medium term, S50Z24 is expected to swing up In the short term, it will be more positive after returning to a position above 930. Evaluate the support level.
930/922/913*/905 and resistance 945/955/967. If it can stand above 930, it can swing up to the resistance at 945/955 If it can’t stand above 930, it can swing down to support 922/913.

Medium term strategy (week)

Recommend opening a long S50Z24 contract at 930 and closing the position at the 945/955 resistance level with a stop loss point at 925.

SET50 short-term futures trend (intraday)

Last Friday, S50Z24 moved wildly. It swung down to make a low point of 931.8, then bounced back up strongly to make a high point of 937.8 and close at 937.2, with S50Z24 rising stronger than the index, causing the basis between S50Z24 and SET50 to +0.51 points.

Evaluate the S50Z24 contract If it stands above 932, it may bounce up to test the next resistance level 937/942.

Short term strategy (intraday)**

It is recommended to open a long S50Z24 contract at the support level of 932 and close the position at the resistance level of 937/942 with a stop loss point of 927.

For those who opened long at the 932 support level last Friday, they may have closed their position at 937.

Factors affecting SET50

Yesterday, the Dow Jones closed down 288 points (+0.7%), closing at 42,052 points as Amazon stocks rose 6.2% after reporting strong operating results, pushing it up 6.2%. employment report from many presidential election surveys showing that the Popularity of the two candidates Mr. Donald Trump and Kamala Harris are close, and on November 6-7, follow the results of the Fed meeting. The market expects the Fed to cut interest rates by 0.25%.

In terms of direction, WTI oil prices in December increased by 0.23 US dollars/barrel (+0.33%) to 69.49 US dollars/barrel. Still receiving positive factors from the news that Axios news agency reported citing Israeli sources Israeli intelligence agencies believe that Iran is preparing to attack Israel and that it could happen before the US presidential election on November 5. Additionally, the OPEC+ meeting voted to delay plans to increase oil production by 180,000 barrels/day in December by another month

The US dollar/baht address varies. Most recently it was 33.81 baht / US dollar.

Factors to monitor in the short term

In the short term, continue to monitor the situation in the Middle East. and the results of the OPEC+ meeting tonight Previously, Reuters reported citing sources that OPEC+ will delay increasing production capacity in December. 180,000 barrels per day at least from the previous plan In addition, investors are waiting to follow important factors. Here are the results of the US presidential election on 5 November and the results of the Fed meeting on 6-7 November.