there is potential for the index to be bullish in the short-term. According to the net long position of foreigner institutions in futures products(TFEX) around last week, it may currently infer that funds are now inflowing to the market. However, risks of decrease in listed company earnings are still remaining ,and many local economic factors are still on negative view.
....so here is a short post of my thoughts —from the passenger seat down to weekend celebrations in Hua Hin :) After SET50 did retest the 800 resistance and support, from below, it has put its GPS on a southern destination. But how far down south is it heading??? Well my best quess would be, to test March lows. I want to end this publication with a few words...
Hi fellow traders! Hope we will all get a positive answer, to yesterdays bounce; are you done with going lower? Yesterday, SET50 bounced of the Panic Gap Island's lows, and will it be enough to break the negative trend and start the second run to the north, from March lows. Or if this was only to trap the buyers, in the bigger negative trend further down...
Momentum still in good shape and going to the line we draw for testing that level.
LONG VIA S50H20 @ 990.0 Stop 981.0 For Target 1025 / 1035 / 1045 Hedge Short S50H20C1025 @ 6.0
Long S50H20 @ 1009.0 Stop 1000.0 For Target 1030 / 1040 / 1050 by 06 Mar 2020 Hedge Short S50C1025 @ 11.0
SHORT S50Z19 @ 1069-72 Stop 1073.5 For Target 1060.0 Hedged with sell 1075 PE @ 12.0 @ 50% Days To Expiration 05
LONG VIA S50Z19 ONLY ABOVE 1057.5 STOP 1053.5 FOR TARGET 1068 /1075 / 1082 BY 18.12.2019
I still think it sideway but may be Dec 2019 it will going to test resistant again 1119-1120 base on MSCI and Set index open too much gap trend. Actually it should be same trend. Set50 index should drive set index as soon.