Thailand SET Index (NYSEARCA:THD): The SET index retests its 600-day EMA....more selling may be ahead

 


The SET retested its 600-day EMA on Friday while the index continues to be stuck under the trendline resistance since early February. The relative strength (RS) between MSCI Thailand and MSCI EEM (Emerging Markets) is trading under its 50-day EMA and on the downtrend, so any rebound could be a head-fake.

Keep an eye on the 50-day and 100-day EMA. They're about to make a bearish crossover, meaning more selling could be ahead.

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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