20080714

The potential drop from symetric traingle formation has been already realized; unfortunatelly, WIG index bounced from the red trend line. That still leaves us in the bear market.

Also, the index is near the 50% Fibonacci level - that makes the situation interesting.

Best approach will be now to wait and see where market goes next.

WIG20 does look quite interesting. After breaking the downtrend line (red), the WIG20 could continue bouncing from this level. Also, there is Fibonacci level 50%, which could help keeping the current index level. We can observe also positive divergence on CCI and break in RSI trend.

However, I will stay sceptical, until the bigger WIG index remains under the red line trend. Please also note, the 2500 is psychological level.