POLAND WIG 20 INDEX

Another perfect example for a flat range breakout can be seen on the WIG 20 Index. Poland’s WIG 20 Index cleared the 2 year-long resistance at 2,450 levels. With last week’s decisive breakout above the strong resistance WIG 20 now targets 2,800-2,900 area. Technical chart pattern can be either analyzed as a rectangle or a double bottom. In both cases, price target is calculated by taking the width of the consolidation range and adding it to the level of the breakout.