Thailand SET Index (NYSEARCA:THD): The SET index looks extremely bearish

 


The SET's rebound failed as foreign investors continue dumping shares. Beware that more selling may be ahead if the 50-day EMA (green line) crosses under the 600-day EMA (brown line), forming another death cross.

Keep an eye on the rising Thai baht as it poses economic headwinds, particularly to Thai exporters and maybe the tourism sector. The Fed is expected to raise interest rates by a quarter-point on Wednesday and may hold rates steady after their FOMC meeting. And that could drive the USD/THB exchange rate down below the ฿34 level.

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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