Thailand SET Index (NYSEARCA:THD): Beware of Double Tops

 


The Thailand SET index may be about to retest the trendline resistance at ~ 1,706, as investors are highly anticipating the return of 7-10 million Chinese tourists, compared with an earlier estimate of 5 million, per Al Jazeera. Foreign Investors remain enthusiastic as the relative strength (RS) between MSCI Thailand and MSCI Emerging Markets (EEM) is strengthening. Beware that a Double Top chart pattern could emerge if the breakout fails, though.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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