The Swiss bank UBS is currently priced at 21.63 and trading well above its rising 40 week moving average of 18.60. News that the bank had dissolved the Loss Protection Agreement of 9 Billion Swiss francs with the Swiss government sparked off a sharp rise in the share price.

The technical picture remains bullish and focus remains on resistance at 22.25 which is the highest weekly close made since the 31st of July 2015.
A weekly close above this level would expose the following Fibonacci upside projection targets based on the entire 8.05 to 22.25 range traded since July 2015.
- Fibo 23.60% - CHF 25.60
- Fibo 38.20% - CHF 27.67
- Fibo 50.00% - CHF 29.34
- Fibo 61.80% - CHF 31.01
Disclaimer
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