SET50 Index Futures Price Trend
ECB rose 0.5%, oil fell sharply
Factors affecting SET50
The Dow ended up 162 points (+0.5%) yesterday to 32,036 on the back of strong buying in firms, such as Tesla, which reported better-than-expected earnings to other high-growth stocks. For example, Apple and Amazon rose as well. Investors are also waiting for the results of the Fed meeting and the US GDP figures next week. The price of WTI for August delivery ended down 3.53 (3.5%) US dollars/barrel to 96.35 US dollars/barrel. Russia has reportedly returned to deliver natural gas to Europe via the Nord Stream 1 pipeline following the completion of annual maintenance. Previously, the market was worried that Russia would not return gas to Europe. After completing the annual maintenance It was also pressured after the ECB raised interest rates by 0.5%, the first rate hike in 11 years and the biggest rate hike since 2000. 2,424 new cases reported, 1,816 more recoveries and 25 additional deaths.
medium term trend
Medium term, S50U22 is expected to move upward. Short-term more negative after standing above 950. Assess support. 937/928/913/903/890 and resistance 950/962/970/980 If it cannot stand above 928, it may swing down to the next support 913/903, but if it can stand above 928, it may swing up to test the next resistance at 937/950/962/970
It is recommended to open a long contract S50U22 at 928 support and close a position at resistance. 937/950 with stop loss at 923
Factors to follow in the short term
Tonight, follow the German manufacturing PMI for July. and the European Manufacturing PMI for July. The market is expected to be 50.6 and 51.0, including the US manufacturing and services PMI for July. The market is expected to be 52.0 and 52.6.
SET50 short term futures trend (intraday)
Yesterday, the S50U22 moved upward. It swings down to a low of 931.3, alternating back up to a high of 939.9 and closing at 937.8, with S50U22 higher than the index, making the Basis between S50U22 and SET50 at -7.19 points (Fair Basis contract S50U22 and S50Z22. at -8.01 and -7.08 points)
Assess the contract S50U22 may swing up. If it stands above 935, it may swing up to test resistance 940/945.
Strategies for Intraday Trading
It is recommended to open a long contract S50U22 at 935 and close a position at resistance 940/945 with a stop loss at 930.
For those who opened a long contract S50U22 at 934 yesterday, they may have closed their position at 935.