SET50 Index Futures Price Trend
Swings down US stocks & oil down, baht weakens
Factors affecting SET50
The Dow closed down 142 points (-0.46%) yesterday at 30,630 after big banks posted disappointing results, especially J.P. Morgan Chase, the largest US bank, posted Q2 earnings. 2022, down 28%. In addition, the US producer price index for June. (PPI) rose 11.3% YoY, higher than the market expected 10.7%. WTI oil prices for August delivery closed down 0.52 (-0.5%) US dollars / barrel to close at 95.78 US dollars / barrel. after Mr. James Fed Chair Bullard st louis branch The Fed signaled a rate hike of more than 0.75%. The Fed (July 15) reported 1,795 new cases, 1,920 more recoveries and 23 more deaths. In addition, the baht/US dollar weakened sharply to its most recent peak of 35.66 to 35.55, close to the previous high of 35.64 in 2015.
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 a stop loss point at 923
Factors to follow in the short term
This morning, tracking China’s GDP for Q2/2022, the market expects 1.0%YoY and tonight, tracking US retail sales for the month of June. 0.8%MoM
SET50 short term futures trend (intraday)
Yesterday, the S50U22 moved weaker than expected. By slowing down to support at 937, alternating bouncing back to the highest point at 941.6, near the resistance provided at 942, alternating downward swing to the lowest point at 931.7 and closing at 935.1. S50U22 is stronger than the index, causing Basis between S50U22 and SET50 are at -7.47 points (Fair Basis contract S50U22 and S50Z22 are at -7.76 and -6.67 points).
Assess the contract S50U22 may swing down. If it stands above 930, it may swing up to test resistance 935/940.
Strategies for Intraday Trading
It is recommended to open a long contract S50U22 at 930 and close a position at resistance. 935/940 with a stop loss at 925
For those who opened a long contract S50U22 at 943 last Tuesday, their position may have been closed at 938.
For those who opened long S50U22 contract at 937 yesterday, they may have closed their position at resistance 941.6.