SET Index : Good chance of hitting 1140-1145 this week.
July 24, 2011 Leave a comment
Unless the USA somehow fails to raise their debt ceiling this week the SET should manage to get to 1140-1145 in the very near term. The SET has an average true range of about 30 points per week right now and unless markets in general are roiled by something insane from the Americans after Europe poured yet more good money after bad and changed the goalposts again the Thai market should see a decent week on healthy volume, but will be ripe for a serious bout of profit taking from 1140-1150, if not a tad lower.
We view 1127, 1131-1133 then 1140 and 1145 as resistance levels. Supports are seen at 1110, 1107, 1104 and 1091