WIG20 Daily and Weekly Analysis

General overview for 14/12/2015: 

The Polish WIG 20 index is in a free fall in wave C  that hasn’t been completed yet. This wave C
is a part of a corrective cycle ABC in the wave 2 of the higher degree. When the corrective cycle
is completed, the next upward wave progression should develop that will make a new higher high
 above the level of 3000.  The projected level of the wave C termination is 1676 – 1606 area.

Support/Resistance:
1993 – Technical resistance
1732 -Technical Support
1792 – Weekly Pivot
1692 – WS1
1676 – 1606 – Wave C Projected Target Zone

Trading recommendations:
Swingtraders should still keep the long term sell orders opened as the target for wave C
hasn’t been completed yet.

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