SET50 Index Future Price Trend
Down, US stocks positive, foreigners sell
Factors affecting SET50
Last Friday, the Dow Jones closed up 153 points (+0.4%) at 38,239 points on strong buying in major tech stocks. The price index for core personal consumption expenditures (core PCE) rose 2.8%YoY in March, beating market expectations of 2.6%YoY, while WTI oil for June delivery traded at US$0.28, including Microsoft and Alphabet.
(+0.34%) and ended at 83.85 USD/barrel. This comes after the Israeli military said the Israeli Air Force had struck an area in western Lebanon, killing an armed group that had attacked Israel. Airstrikes on Rafah also increased on Thursday. As a result, investors are worried about the oil supply situation.
medium term trend
In the medium term, S50M24 will be more favorable if it is above 821 in the short term. Rate the level of support. 821/810/798/788/775 and resistance 832/841/849/858 if it can stand above 821 then it can reach resistance at 832/841 and if it cannot stand above 821 then it can switch to support 810/798.
Medium Term Strategy (Week)
Recommend to open a long S50M24 contract at 821 and close the position at 832/841 resistance level with stop loss point at 816.
Factors to monitor in the short term
Tomorrow, follow the Chinese official report on China's manufacturing PMI for April. The market expects a plus of 50.3 and tomorrow night we will follow the European Consumer Price Index for March. The market expects 2.4%YoY, an important factor this week. These include Wednesday night following the results of the Fed meeting and Friday night following the nonfarm payrolls figures and the US unemployment rate for April.
SET50 Short Term Future Trend (Intraday)
Last Friday, the S50M24 fluctuated, rising to 836.1, alternately falling to 829.6 and closing at 831.9, removing the S50M24 lower than the index, the result is between S50M24 and SET750 points S50M24 and S50U24 contracts +1.63 and -2.02 points)
Assess that the S50M24 contract may fluctuate downwards. If it breaks above 827, it may move up to test the next resistance level 832/837.
Short Term Strategy (Intraday)**
Recommend to open a long S50M24 contract at 827 and close the position at 832/837 resistance level with stop loss point at 822.
For those who opened a long S50M24 contract at 830 last Friday, we recommend closing the position with a stop loss point of 825 at the resistance level of 832/837.
Strategies Appropriate for Market Conditions: Short Term Strategy (Intraday)
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