It looks like wave (5) is getting extended in SET index. Within wave (5), wave III is possibly unfolding as it has breached the high of wave I. At 1713, wave I and III will be equal. Since normally wave III is 161.8% of wave I, that level works out to 1806. On the way down, the 40DEMA and the 20DMA, currently pegged at 1628 and 1622 respectively, will be the support levels to watch out for in the forthcoming trading sessions.