US, Europe and Hong Kong bullish
Thailand faces big test

27th February : The US markets have rallied substantially in the last few months but there is no sign of topping and the outlook is still bullish. Europe has bottomed on good support. I expect further upside for Europe, but it is likely to be anemic. The Euro still looks bearish. Oil has bottomed but strong resistance is nearby. Gold and silver are languishing; their trends are still long term bearish. Thailand is facing a big test at its previous high of around 1,650. Breakout would be bullish. Turnover on the SET is persuasive of a bullish scenario but we need to wait for breakout.
Charts current to 24th February.

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