Thailand SET Index (NYSEARCA:THD): The SET index tumbled after the 200-day EMA crossed over the 100-day EMA

 



The SET index rebounded slightly to close at 1,577.07 on Friday after a technical sell-off, beginning on Monday. It came as no surprise since we already warned about the death cross chart pattern.

The SET is now retesting the March 27 breakout. The index could dive down to ~1,546 if the breakout-retest fails. Stay cautious while the relative strength (RS) between MSCI Thailand and MSCI EEM (Emerging Markets) is trading under its 50-day EMA.

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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