Siam Commercial Bank (SCB)

Chances are SCB will come off to very near 87 if the key support at 93.50 fails this week or next. A rebound and weekly close above 98 and preferably 100 is required to give weight to a reversal story, but overall the charts suggest a few weeks of side ways down trading rather than a snap bounce at this stage. There is major support from 87 to 82 or so, and on a pullback to this range swing traders should start to buy again


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