SET50 Index Futures Price Trend
volatility, US oil volatility foreigners continue to buy
Factors affecting SET50
The Dow closed down 222 points (-0.67%) yesterday at 33,212 following Christopher’s comments. Waller, one of the Fed governors, said: The Fed needs to raise more accelerating interest rates. If inflation is not likely to slow down He said the Fed should raise interest rates by 0.5% at every meeting. times since June including selling pressure from volatile oil prices In the direction of oil prices, WTI for delivery in July closed minus 0.40 (-0.4%) USD/barrel to close at 114.67 USD/barrel. Previously, oil prices rose to a high between $119.96/barrel. After the Wall Street Journal reported citing sources that OPEC+ was considering suspending Russia’s involvement. And it allows Saudi Arabia and other countries to increase production to compensate for Russia’s lost oil production. This is considered a negative factor, depressing the direction of world oil prices. The OPEC Plus group will hold a meeting on Thursday. The market is expected to increase 432,000 barrels in accordance with the original agreement on the BOE. (1 June) reported 3,955 new cases, 6,607 more recoveries and 21 additional deaths.
medium term trend
Medium term, S50M22 is expected to move upward. Short-term more positive following standing above 955. Assess support. 993/985/973/962 and resistance 1000/1012/1021/1031 If it cannot stand above 993, it may swing down to the next support line 985/973/962, but if it can stand above 993, it may swing up to test the next resistance at 1000/1012.
It is recommended to open a long contract S50M22 at support 993 and close a position at 1000/1012 resistance with a stop loss at 988.
Factors to follow in the short term
Tonight, follow the ISM report on the US manufacturing PMI for May. The market expects 54.5 important factors to follow. Including Thursday following the results of the OPEC Plus meeting, the market expects OPEC Plus to increase production by regarding 4.32 hundred thousand barrels / month according to the original agreement. And Friday night, tracking numbers for non-farm payrolls and the US unemployment rate for May.
SET50 short term futures trend (intraday)
Yesterday, S50M22 swings up, slowing to a low of 990, alternating back up to a high of 1000, matching the resistance provided and closing at 996.0, with S50M22 going even worse than the index, causing the Basis between S50M22 and SET50. at –4.24 points (Fair Basis contracts S50M22 and S50U22 are at +0.43 and -7.83 points)
Assess the contract S50M22 may swing, if it stands above 995, it may swing up to test 1000/1005 resistance.
Strategies for Intraday Trading
It is recommended to open a long contract S50M22 at 995 and close a position at 1000/1005 resistance with a stop loss at 990.
For those who opened a long contract S50M22 at 990 yesterday, they may have closed their position at 1000.
