Has the air ran out from SET?
After a strong bullish run, SET managed to close with bearish candle that engulfed the larger indecision candle from the trading day before.
I would have been calmer if SET50 and S50 would have followed its sister, but they have not had a close over the June highs.
So let's ask us the question; is this the end of x-mas / Covid vaccine rally and time for a lager correction?
Well if the 1450 support doesn't hold, the gap support and fib.618 might very well be a good area to find new buyers. Although, I personally, would feel more at ease if SET went all the way down to fib.50, to find new buyers, so investors can get a healthy northern ride, with nice slow higher highs and higher lows.
I would have been calmer if SET50 and S50 would have followed its sister, but they have not had a close over the June highs.
So let's ask us the question; is this the end of x-mas / Covid vaccine rally and time for a lager correction?
Well if the 1450 support doesn't hold, the gap support and fib.618 might very well be a good area to find new buyers. Although, I personally, would feel more at ease if SET went all the way down to fib.50, to find new buyers, so investors can get a healthy northern ride, with nice slow higher highs and higher lows.
Note
Okey, so SET had a lot of investors taking home their profits today. We will see during the next coming days if the price will stay over the 2 important fib levels or if we're in the beginning of a new serious run to the south. It's way to early to say but we should have an answer, by this weeks close
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.