WIG20 trade ideas
WIG20 and its correlation with OIL priceOver the span of 20 years WIG20 has shown high correlation with Oil price. Oil is leading so both are heading lower
*LONG* -Ascending Triangle pattern-On the graph, we can see a typical ascending triangle pattern. The breakout point should be at ~2131.77.
Potential H&S Pattern + falling wedge on right shoulder on WIG20We will see how will it going in the next 1 year.
Of course if bear's world financial crisis will not wake up.
WIG20 --- 2018/19=2011/13? fractal pattern?WIG20 in weekly timeframe.
Last 7 in a row directional move (count from the top of Jan 2018) match to 7 wave between Apr 2011 do Jun 2013...
WIG20: Strong long term bullish opportunity.The Polish index is approaching the 2,080 October 2018 Low and 1W Support Zone (2,013 - 2,085). With 1M on the lower levels of neutrality (RSI = 45.568, ADX = 19.801, MACD = 34.710) we are on excellent technical long term levels for a bullish reversal towards the 2,600 Resistance. If the E.U. fundamentals help in 2 years time it may even break this Resistance, which if crossed, is an automatic buy to 2,900.
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