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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Wednesday, January 25, 2012

SIF Oltenia (SIF5) Technical Analysis 2012.01.25

SIF Oltenia (SIF5) share price is getting closer and closer to the resistance zone of 1,2400-1,3000 RON and the close of yesterday is in the previous highs area (November and December highs).

Due to the mixed evolution in the financial sector in the past sessions, a sell signal was given in order to mark the profit from the December buy signal at 1,0000 RON area ( . The high volume of yesterday could also mean profit taking of some investors.

The first clear support is now in the 1,1200 RON area and the closest resistance is at 1,2200 RON, which represents the 50% retracement of the 2011 decline. 

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