Tuesday, January 25, 2011

SOFIX - Trendline Breakout Confirmed

SOFIX has now a confirmed Trend line break and targets the psychological Resistance at the 400 level. A break above will make the market focus on higher Resistance levels: 428 / 469 and the 2009 top above 500.
Risk is on a dive back below the broken trendline the odds of which diminish greatly with the rise of inflation and the global recovery we are monitoring in major markets. The money will soon start to flow from the center to the periphery again and frontier markets like Bulgarian Stock Exchange will find its spot under the sun.

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