Thailand SET Index (NYSEARCA:THD): The SET Index May Head Down to Test the DEC 28 Breakout

 


The SET index is retesting the trendline support at around 1,642 after the Thailand Q4 GDP came in at 1.4%, well below the market consensus estimate of 3.5%. Weak export orders on slow demand and a strong baht could be part of the problems.

Be aware that the index needs to bounce off from here or else will head down to test its 200-day EMA (1,634.18) and the DEC 28 breakout at around 1,626, respectively.

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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