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, January 31, 2012

SIF Muntenia (SIF4) Technical Analysis 2012.01.31

A sell signal was given by SIF Muntenia (SIF4) shares on Friday (http://markettechnicalview.blogspot.com/2012/01/sif-muntenia-sif4-technical-analysis_27.html ) to make a profit of 9.0%, on the buying signal on January 12 (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-sif-muntenia-sif4.html  ).
Further on, the mid-term (several months) price action indicates an bullish channel and the main support area is between 0,6000 and 0,6215 RON levels.

First resistance is given by the 50% Fibonacci retracement of the last year decline, at 0,6690 RON level. Increasing volumes from January attest the growth veracity and a successful test of 0.6000-0.6215 area as support will create new buying opportunities. 



Posted by Adrian Filip at 11:18 AM
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