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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Friday, February 10, 2012

SIF Oltenia (SIF5) Technical Analysis 2012.02.10

SIF Oltenia shares price reached the Fibonacci retracement level of 61.8% reported to the entire decline from March-October of the last year.  

The entire area between 1.3240 and 1.4500 RON levels represents a resistance area but, this doesn’t necessary assume a trend reversal; it’s just an investors attention for a precautious attitude.

The price evolution from the last 4 months shows the framing into an upward channel and the last session rise led the price closer to the upper limit of the channel that is the T2 trend line.

On very short term (few days) the first support is given by the 1.3240 RON level and the resistance is at 1.4500 RON level.

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