Weekly scan for 8-12 February 2016 [-]

SET rebounded from 1200 level and formed a bullish Pinbar last week on a resistance around 1300. It is getting closer to its upper bound of the downtrend regression channel.

A break away from this level will face next resistance around 1350; confluence with 61.8% Fibonacci level from last upper leg. My guess is SET will not pass the 1350 level as many traders will take profit there.


About Alan Maleesatharn

CEO & Co-Founders of Polar Bear Fishing International, full time data manager and biostatistician at Siriraj hospital, a father to lovely wife and adorable son.