© Dukascopy Bank SA
At the moment, SWFX sentiment is bullish – almost two-thirds of market players hold long positions, alluding that an up-trend is likely to lie ahead. The confirmation of this would be a rise above at least 173.52/62 (four-hour PP, R1; daily PP) that if overcome may push the next resistance zone at 173.73/86 (four-hour R2, R3; 50-hour SMA) to the fore, above which there is nothing to prevent the instrument from attaining the pattern's upper limit.
© Dukascopy Bank SA