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WIG

WIG (Warszawa, PL) to Gold (in ounces), 1M (Heikin-Ashi)Dear Everyone, Today, one more time I present the wide index in Warszawa (PL) in relation to Gold prices (of an ounce). Of course, the price is using monthly candles with Heiki-Ashi preparation. So, there is presented bigger timeframe. As we could see, there is a real possibility to buid an inverse Head-&-Shoulders pattern. But, we will see, what future will bring to us. The prices in Warszawa could stay in relation to Gold at current levels even to March or May. But the chart seems to be very promising for the second half of the year and next year. However, we need to keep in mind as there is also other element: Gold prices. Let's remember that when we have (now) the time of real positive interest rates (read as: cash shortage), there is a question if the prices of Gold would be only higher and higher - IMHO that's slighthly controversial thesis. As always, with best regards to you all, Paweł
GPW:WIG
by PawelHodurek
WIG - Resistance becomes supportGreetings to you all! I decided to mix journalism and technical analysis in this post. I will describe the last 20 years of price action in Warsaw Stock Exchange Index (WIG), laying out the market structure and how it was shaped by key geopolitical events. Keep reading till the end, because the key message is that decade-long resistance level might have become a support zone, and Polish stock prices could be well-positioned for future growth. Warsaw Stock Exchange Index (WIG) has declined during 2008 financial crisis, after reaching all time high of 67,772 PLN. This price level created a resistance that scared off any early advances and pushed away subsequent rallies. 2017 and 2021 brought 2 attempts that failed to break above the resistance. The first rally did not quite have the momentum required to push the price higher, and the buying power vanished over the next 2 years. 2020 brought crisis and a steep decline in price, which was followed by a quick recovery through 2021. Price managed to close above ATH during July - December period of 2021, but it was short lived. Rising interest rates in 2022 and high inflation growth over the last 12 months resumed the pessimistic tone markets have followed in the aftermath of the covid pandemic, resulting in price falling back below the resistance, which remained intact at 65K - 75K PLN level. It is important to mention that 2021 rally changed the character (CoC) of the established market structure post 2008 crisis, because price closed above ATH and set a higher high. Now, if I consider a local market structure of 2020 - 2024, I can clearly see a basic uptrend pattern of Higher High > Higher Low > Higher High, which is confirmed by both MACD and RSI indicators on monthly chart. Collectively, the 2020-2024 price impulse broke above the decade long resistance, which may now act as support, but, if you're a careful observer, you would notice that this happened as well in 2021. Why this time is different? Because consider the broader economic context, and you'll also notice that in 2024 inflation is seemingly under control (though above the target rates). Moreover, central banks kept the interest rates pretty much flat in 2022, and some even proceeded to cut them, lifting capital restraints affecting companies. Hence, overall picture for WIG looks quite optimistic. It gained 27% in the last 12 months, broke above strong resistance, and it did so by establishing an uptrend price impulse. Meanwhile, Polish currency appreciated by ~5% against dollar and rose to #6 economy in Europe as of 2023. It grew twice as fast as top 5 economies both in 2023 YoY and during 2020 - 2023 period. I guess I will add some WIG to my portfolio, it looks good to me. But you decide for yourself, I'm not a financial advisor and this is not a financial advice. Thanks for reading this post.
GPW:WIGLong
by VovaNapas
WIG20, Daily, 1-Hour H&S and Weekly Bearish CandleThere was a big rally on the WSE recently - 16 green Heikin Ashi candles in a row. Now it's time for a continuation of the downtrend or, less likely, a correction in the new bullish trend. Why? There is: - an important supply-resistance level - a supply zone - 1-hour confirmation - Head and Shoulders formation - weekly confirmation - an ending bearish candle and USDPLN entered the weekly support zone. Rather, the price will fall from these price levels otherwise, there is a chance that the upper zone will be tested. The first target: the lower zone. The second target: 2020 low. See also related ideas.
GPW:WIG20Short
by MichaelFX_ICT
USDPLN - still going uphi, best regards from Poland, from my work I see that USDPLN can hit 5.4 zl or even 5.6 zl I think that we are on the beginning of creating one of the shoulders - waiting for a head, even one head or even two heads... Situation is still dramatic - FED officially said that it is fighting with inflation. Still. It is major and the most important factor and risk in this game. Then we got war, still, without any conclusion how it will end... many scenarios are being plays. I do not believe in atomic attack. I think that this war will be to last drop of blood. Like Armenia and Azerbaijan conflict. Major issue - still Europe is without gas, oil, no working pipelines for German, Poland. France and Italy or Spain are going very good. I wish you good luck in this hard game, But remember the most important and cycles. We got economical cycles and we see that there is one being played on USDPLN - Long. Look on the chart in long term - compare 2000 highs, then lows and see where goes arrows.
Long
by WinterManOnTheSky
Three times the charm for shorts on OPL?Telecom sector in Poland is not really popular lately. As I recall the aggregating index WIG_TELE got removed due to not interesting, following modern trends or something. While looking at this from monthly perspective it has to be stated that it got really cheap lately although it is honest and can be easily spotted by anyone in Poland that monopolist had to share the local market so that story said by monthly chart adds up. On the weekly chart we clearly can see RSI divergence trying to say to us that we might have a shot at short. Next two weeks and monthly candle will quickly really verify is that true. A lot of polish indexes, stocks are at vital levels right after significant rally. If things cool down globally OPL can see a significant downward move. Great risk to reward ratio with obvious stop if the story does not confirm itself over the course of incoming new week and the next one. Oh and don't mind the previous drawings. Time verified them to some degree.
GPW:OPLShort
by deejayzajac