Sawasdee – June 21, 2022

A chance to rebound but with limited upside

Market today
The SET is expected to rebound, however any upside is limited with resistances at 1,570 and 1,585; supports are at 1,550 and 1,540. Interest rate hikes to slow inflation is still a major pressure, particularly over how it will affect the economy. A key point to follow is Powell’s testimony to Congress on Wednesday, which is expected to have a large effect on the market.

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Market strategy
SCBS Market Strategy 3Q22  – A twist in the tail
 
Industry analysis
Energy: oil and gas – Still prefer upstream plays on solid oil price