CHANNELS.BVB - LATE ECONOMIC UPDATE


SUMMARY: ROMPETROL RAFINARE DAILY (RRC) Prices touched but did not break the multi month channel support line. This keeps us looking up. DAFORA DAILY (DAFR) Prices have reached the previous KR level. A break above previous highs would be positive. Moving average crossover also keeps us looking up in a minor trend. BIOFARM WEEKLY (BIO) Moving average crossover remains positive. ZENTIVA WEEKLY (SCD) Prices are above the key level at 0.63. Above this level we get further positivity. PETROM DAILY (SNP) ANTICIPATED AND HAPPENED Prices turn lower from the open gap. A break up above the gap level would be positive. OIL TERMINAL WEEKLY (OIL) Prices remain outside the downtrended channel and below the key level at 0.2. For sustained positivity we need a break above 0.2. OLTCHIM WEEKLY (OLT) Prices retraced 50% and pushed higher, though minor trend is up we need a clear break above 0.4 to look for a sustained uptrend. TRANSGAZ DAILY (TGN) Daily moving average crossover is positive. If prices move above the Engulfing Bearish (EB-) formation the trend would move from DOWN, BUT BOTTOMING to UP. TRANSELECTRICA WEEKLY (TEL) The sideways corrective action continues. We have no negative confirmation till prices clear break the resistance line at 11.5. VRANCART WEEKLY (VNCA) Prices broke up the key level at 0.75. ALUMIL WEEKLY (ALU) Prices moved sideways and reached the mid channel line. AZOMURES DAILY (AZO) Daily moving average crossover is positive. Prices formed a Key Reversal (KR) bar and moved down. A push up above the current KR would suggest positivity. PETROLEXPORTIMPORT WEEKLY (PEI) Prices remain below key level at 20. A break would be a positive sign.

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