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).

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Tuesday, February 21, 2012

SIF Transilvania (SIF3) - Technical Analysis 2012.02.21

The resistance given by the weekly highs (in the 0.6730 RON area) was not broke in the first session of the week and thus, it maintained its validity for the next days. 

The mid-term channel fit the price of the last 2 months and its limits can be considered as support and resistance for the price.

Also, the T1 trend line together with the 0.6100-0.6300 RON area forms a strong support. The increase target remains in the 0.7150 RON area and an eventual breach of the highs from 0.6730 RON will confirm the great potential of touching it.  

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