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At the moment, the instrument is trading not far away from the formation's support but is likely to move farther from this level considering that over 90% of all positions on the SWFX are long. A confirmation of the traders' view would be a rise above several important levels, namely 7.7502/4 (four-hour PP, R1; daily PP; 50-hour SMA), 7.507 (daily R2; four-hour R2) and 7.7509 (four-hour R3; daily R3).
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