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WIG20 Index Testing 23.6% Fibo Resistance

POLAND
  • The sharp bull consolidation on PLN in the end of November supported Polish equities, which have been gradually retracing higher since their local low of 2,120 reached in the end of November.
  • WIG20 Index found support slightly above the 2,100 level, which corresponds to the 38.2% Fibo retracement of the 1,497 – 2,474 range.
  • WIG20 has been testing its 2,243.30 (23.6% Fibo) in recent days; a break above that level would open the door for a move up to 2,321.70.

Source: Bloomberg/MNI

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