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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Thursday, February 2, 2012

SIF Transilvania (SIF3) Technical Analysis 2012.02.02

The SIF Transilvania (SIF3) shares price managed in the previous session to break the resistance area of 0.6100-0.6290 RON, thus transforming it into the first support area. 

On short and mid-term (few days or even months) the price could continue its increasing, but for finding suitable areas for buying it must be found the support areas for the price in which the potential buyers find the price attractive.

A buying scenario would be given by a successful retest of 0.6000-0.63000 RON support area, as the daily chart shows. In case that this scenario will come true, the target will be given by 0.7150 RON area, given by the length of October-November up-swing projected from the 12 December local lows (0.5000 RON).

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