Thai stocks - Possible bearish short/mid-term outlook

[Duff]

Hello fellow traders,

I highlighted a bearish rising wedge last month in the SET

Today the SET broke down from a 5 months rising wedge, right at upper 14-month T/L, as it's been struggling getting through the 50% Fib.

Close triple support at 1373-76 (lower BB, 50MA, 38.20% Fib).

But should this support break, SET is likely to fall around the 1,310 area which could potentially erase 4 months gains.

Trade safe!

"Markets are never wrong, but opinions often are" - Jesse L. Livermore

"Markets can remain irrational longer than you can remain solvent" - John Maynard Keynes

[Duff]

chart

[kblaze]

TA aside, the market trends down on news of violence, and will rebound strongly on news of a new election. Regarding the latter, it could be quite some time.