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If the support at 116 is violated, the bears will likely push the price six figures south, towards the demand area around 110, created by the monthly S3, 200-day SMA and 2014 Sep high. However, if the down-trend at 119 gives in first, the bulls will have a good opportunity to invalidate the bearish scenario and re-challenge last year's highs (121-122). Meanwhile, the SWFX sentiment is bullish, 59% of open positions are long.
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