My future thoughts of where SET is heading

25 May 2020

We are currently in a bearish wedge, which normally is followed by a run down south. Although, the times it occurs in the opposite direction it is often a very strong and powerful run up north.

I am bearish, due to the fact of the wedge and the falling resistance, from July 2019. And also that we have consolidated for about a month, by the "covid-panic-island" and the resistance will be by the Evening Star, with two strong gaps, I have hard time seeing that SET will have the power to move much further up north, away from that area.

I have to say; these are interesting times.

2 Haz 2020

İşlem aktif

The gap from the falling resistance-support, 2:nd of June, made me change my short- and medium-term thoughts to where my intraday plans often have been at during the make of the wedge; I now believe that we are looking at prices further north of us, first resistance I see is, the yearly average of MA 12 (month), is as of now at 1841, which might give up a fight after that we have the resistance, as in my chart, at around 1550.