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WIG20 Index Finds Resistance at 100DMA

POLAND
  • The ‘slight improvements’ in the Russia/Ukraine conflict in the past month has led to a gradual recovery in PLN and Polish risky assets.
  • Polish equities have retraced nearly 60% of their October-February losses; the WIG20 index has been testing its 100DMA at 2,184.10 in the past few days.
  • A break above that level would open the door for a move up to 2,212.10, which corresponds to the 61.8% Fibo retracement of the 1,781 – 2,478.60 range.
  • On the downside, support to watch stands at 2,129.80 (50% retracement).

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