Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Monday, January 30, 2012

SIF Banat-Crisana (SIF1) Technical Analysis 2012.01.30

SIF Banat Crisana (SIF1) shares broke on Friday the 0,9380-0.9500 RON resistance zone, transforming it though in the first support zone.

The first target remains in the 1.0000-1.0700 RON and a retest of the support zone could happen in the next days, before the up trend will resume.

The longer market perspective shows a symmetrical triangle that broke its upper limit and set the prices to go higher. The low volumes during the consolidation pattern (triangle) and the previous market rally (started in early October) on good volumes provides a bullish scenario that will reach eventually the early April 2011 highs, in the 1,3000 RON area. 

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