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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Tuesday, February 21, 2012

SIF Oltenia (SIF5) Technical Analysis 2012.02.21

The SIF5 shares price evolution from the last four months is framed by an ascending channel whose limits act as support and resistance.

This, together with the 2011 summer highs from 1.4500 RON area, establish a strong resistance for the price and, in case of a correction, the first target will be around the 1.3580 RON level, given by Fibonacci retracement of 61.8%.

The volumes down in recent days attest the weaker interest of investors but this fact can be only a break in the investor's positive sentiment.

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