Thailand SET Index (NYSEARCA:THD): The post-prime minister election rally may be running out of steam

 



The SET index was rejected at its 600-day EMA / trendline resistance near 1,578 on Wednesday after a big run-up. The index ended the week below the 200-day EMA and a possible pullback could continue next week. Be cautious that the relative strength (RS) between MSCI Thailand and MSCI EEM (Emerging Markets) is beginning to weaken again. The next supports for the SET index are 100-day EMA and the key resistance level at 1,546.62.

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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