SET in correction.After SET hits resistance at 38.2 then meaking correction but still in the uptrend channel . We expect SET will be moving down to the support level then bounce back again.
SET trade ideas
Chaloke short-term projectionCurrently, SET is in wave-A that should bottom out around 900-950 point. For wave-C, it should form a bit higher than wave-A and it should form higher than wave 1.
However, it also has a small possibility to break this zone. It means it might go down to the last 2008 crisis low (around 400).
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SET Long term projectionSET Index is forming C-wave. The expected target should be around 950 (-50).
Almost there.SET is falling down to the level as we expect 1220 and then bouncing back. We do not recommend to buy back at this point if you wanna be long term investing, but should do trading or swing trade instead.
SET still in Covid-19 Sentiment.Next week we expect the price still moving downward futher more or might be open another gap down. Trading in the price zone and follow the direction when the price breaks the support or resistance.
SET Confirm correction FlatSET Confirm correction flat strong b c failure, Target price 1.618% (1314.80).
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.
