SET Confirm correction FlatSET Confirm correction flat strong b c failure, Target price 1.618% (1314.80).
SET trade ideas
Are we in the impulse wave or corrective wave since It's begun?Sometime Elliott wave principle couldn't explain the characteristic of wave which occurs on the price chart, because price movement behaves like impulse wave but not as the wave principle applied rules. This is why Glenn Neely has the explanation in this behavior in his NeoWave Theory. Neither Small X wave nor Large X wave those never been told in The elliott wave principle.
Covid-19 The big impact to the Market.Due to the panic sell of investors and we couldn't find the peak of Covid-19 yet, then we expect Set might hit the key resistance at 1358 for technical rebound and then going down to test the next fibo level 161.8 at 1252
SET hasn't finished the correction.SET hasn't finished the correction until the price broke through the red trend line.
Set For this week Set will have a resist @1540 and Support @1523 & @1515 If price break below 1523 it will continual the down trend until hit another support
But if the price chose to go below 1500 that's mean we still be in the down trend and will look at the next support area around 1480
SET Index still progress in the down trend.Set Index would going down as ZZ formatiion still in progress. We expect the support target price around 100% - 127.2% of Fibo level, but worst case scenario might runs the price down to 161.8% . If the price does break down the support.
Set Index I still thinking about Set Index. 5 Years back we found set index got the support on this point 1580-1600 many times. Hope this support strong enough to get Set index going up again. But due to Trade War between US and China, make set index difficult to going up.
SET index is coming downFrom world's economic trends, I am expecting to see SET index drop down to 1350 zone which is strong resistant zone.
Timing between last quarter of 2019 to first quarter of 2020.
SET Index to hit 2-year new low (Weekly Chart)After SET index breakout 5 years channel at 1600.00, it retested to 1600.00 support line and showed the weakness breakout as long red and short green candles.
It dipped a little new low at 1590.00 so this notices the bearish sign of lower high and lower low.
Forecast : Bounce to 16500.00 and plummet to 1500.00/1350.00
