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Can the front post be elevated a tiny bit with an AK tool, or just moved laterally?
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Unlike the AK front sight, the M69 sight can not be adjusted for windage. Windage adjustments can be made by drifting the M69 rear sight.
The elevation portion of the AK tool will work on the M69. Tapco makes a tool that does only the elevation adjustment and it's a good deal less expensive than the standard tool that does both elevation and windage for an AK front sight. It's only about $4.