Poland 20 Index surges in channel pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since booking a 2020 low level at 1,795.00, the Polish top 20 stock index has been recovering in a channel up pattern. By March 25th, the index had reached above the 50-day simple moving average at 2,130.00.

A continuation of the surge of the stocks might encounter resistance in the 2,250.00 mark, which acted as resistance during February. In addition, note the 200-day simple moving average at that level. Higher above, note the 2022 and 2021 high levels at 2,435.00 and 2,485.00.

On the other hand, a decline of Polish stocks would look for support in the 50-day SMA near 2,130.00 and the 2,100.00 mark, before approaching the lower trend line of the channel up pattern near 2,000.00.
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