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From : International Equity Index Daily Hotline: 29 June 2016
Chart of the day: 'Bear trap' recovery by OMX

 

Sweden's OMX index has bounced from 1240.68.  This has led to a failed break under the February floor at 1247.06 and gives rise to hopes for a further 'bear trap' recovery over the near term, especially as the market traded above the mid-June low (1270.16) during Tuesday.  A glance at the chart printed on the right shows firm resistance at the 200-day MA.

 






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