2024-05-16 08:59:07
SET50 Index Futures Worth Development
Up, the inventory market and American oil have been optimistic.
Components affecting SET50
Yesterday, the Dow Jones closed up 349 factors (+0.88%) to shut at 39,908 factors following the US Client Worth Index (CPI) for April. rose 3.4% month-on-month, according to market expectations, whereas the CPI index rose 0.3% month-on-month, decrease than market expectations of 0.4% month-on-month, supporting investor expectations that the Fed would lower rates of interest this yr. Concerning worth route, WTI oil for June supply closed at US$0.61/barrel. (+0.78%) and closed at 78.63 US {dollars}/barrel. After reviews that weekly U.S. crude oil inventories fell by 2.5 million barrels, greater than the market’s anticipated decline of 400,000 barrels, this was seen as a optimistic issue that offset the adverse elements within the IEA, which decreased its forecast for growth in international oil demand. this yr by 140,000 barrels/day to achieve 1.1 million barrels/day
Medium-term pattern
Within the medium time period, the S50M24 is anticipated to fluctuate. Within the quick time period, will probably be extra optimistic following holding above 841. Assess the assist stage. 841/832/821/810 and resistance 8 49/858/868/877 If it may maintain above 841, it might transfer as much as resistance at 849/858. If it can not maintain above 841, it might transfer all the way down to assist at 832/821.
Medium-term technique (week)
It’s endorsed to open a protracted contract S50M24 at 841 and shut the place at resistance stage 849/858 with a cease loss level at 836.
Components to look at within the quick time period
This night, the variety of weekly unemployment claims in the USA might be launched. The market expects 219,000.
SET50 Quick Time period Futures Development (Intraday)
Yesterday, the S50M24 fell, rebounding to a excessive of 849.0, alternating with declines to a low of 843.3 and shutting at 844.9, with the S50M24 including extra power to the index , which implies that the idea between S50M24 and SET50 is +0.36 factors (the Honest Foundation S50M24 and S50U24 contracts are at +2.66 and -1.12 factors)
Consider the S50M24 contract, it might fluctuate upwards. If it holds above 841, it might rise to check the subsequent resistance stage 846/851.
Quick-term technique (intraday)**
It’s endorsed to open a protracted contract S50M24 at 841 and shut the place at resistance stage 846/851 with a cease loss level at 836.
For individuals who opened a protracted contract S50M24 at 843.3 yesterday, it is suggested to shut the place at resistance stage 846/851 with a cease loss level at 838.
Methods suited to market circumstances embrace: Quick-term (intraday) technique
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