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BUX Index Breaks Below 200DMA

HUNGARY
  • Hungarian equities, which have been very sensitive to the Russia-related tensions in recent months, have been retracing sharply lower in recent days amid global risk-off environment.
  • BUX index broke below its 200DMA on Friday and tested its ST support at 48,861.40 (which was the low reached on December 23).
  • Next key support to watch on the downside stands at 46,935.80, which corresponds to the 38.2% Fibo retracement of the 31,894.40-56,233.20 range.
  • On the topside, resistance to watch now stands at 50,753.40 (200DMA).

Source: Bloomberg

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