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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Friday, November 11, 2011

CSCO breaks out

CSCO closed 5.68% up and above it`s resistance, on decend volume.Looks like our trading plan is working.I will wait today too see if it will test support, if it does so successfuly  i will start buying.

Thursday, November 10, 2011

CSCO weekly

The last time CSCO broke it`s sloping resistance was in 2009.
Similar situations requier similar action? Or this time will be different ?

CSCO up 6.5% in pre-open

I have been monitoring CSCO for a few months now.Today CSCO is 6.5 % up in pre open  market.
If we get a successfull close today above 18.50 and we also get some nice volume readings, i think we can safely say Cisco is a good candidate for some upwards action in the comming weeks.
More after the open....

DAX Technical Analysis 2011.11.10

Is this just a pullback in a down trend?

DAX Index broke the neck line yesterday, signaling a continuation of the down trend. As I expected, there is a retest of it (pullback) that can offer a good opportunity to sell.

The resistance area is between the 5,800 – 5,900 levels (the neck line and the t1 trend line) and the eventual failure of the bulls will set the market for lower lows in its way of achieving the H&S target in the 5,140 area.

The indicators are also revealing a down trend and future readings of an overbought market will signal the end of the rally.  

SPX close to support

SP500 is close to support, let`s see what happens.

Horizontal support breaks on DAX, what next ?

   The Dax broke horizontal support this morning, looks like we are in for some serious downward action.Next logical target is the 5140 area wich is some 540 points lower.
Now that we know we should move much lower, the question is how are we going to get there.With all the late italian monster volatility  is this going to be the perfect opportunity ?

Wednesday, November 9, 2011

As you can see in the Weekly and Daily chart on the Q`s there is some serious upward resistance.Until  the 60 barrier is broken i don`t realy see how can anyone can be bullish.

Head and Shoulders on DAX

Another way to look at DAX: last few weeks formed a Head and Shoulders pattern that points out lower prices in the future days.

A brake of the neck line will set the market to travel towards the lows of September, the target being in the 5,143 area. This is also a support due to the local lows in the month of September and early October.

I am looking for a brake below 5,800 level, followed by a pullback (a retest of it) in order to generate a sell signal. However, this is only a scenario of possible price evolution. The main point remains, though, the 5,143 target in case the H&S will be validated.    

The DAX on 1 hour timeframe is right on the 5740 support.It has been tested 5 times already.
Will it fail this time, or is this the perfect Risk Reward opportunity for the bulls ?
I will be watching it closely tonight as the Nyse is about to open.Anyway in case the support holds the target is 6092 and in case it fails....well i am looking to the previous lows of september.
Good Luck

DAX Technical Analysis 2011.11.09

DAX is breaking a key trend line!

In Monday analysis of DAX I pointed out the corrective outlook of the september-octomber up move and the beginning of wave 3 (down) in 27 of octomber.

I also mentioned that the break of the lower border of the channel (T1) will provide confirmation of the scenario. This is very likely to happen today, as the price is currently below T1 and the last days showed bullish weakness.

As wave 3 (blue) will develop, I am looking for wave [iii] to end in the 5,000 area, followed by a kind of broad consolidation forming wave [iv] and finishing with wave [v], well below the mid-september lows. However, this is subject of interpretation and the chart should be re-analysed according to the price action.

EUR-USD Technical Anlalysis 2011.11.09

Channel break in EUR-USD!

The EUR-USD cross broke below the lower border of the channel (T1 trend line) and is set up for more downward action.

The first support is in the 1,3650-1,3660 area, but the main target remains in the 1,3370 area. The next confirmation will be the brake of 1,3660 level. Accordin to the first down swing, in late octomber, the slope of the current move (wave 3) could be aproximately the same, this meaning that we could witness a sharp decline in the next couple of days.

The intermediate support sould be very well taken in consideration as it could stand for a quick rebound (rise). If this will be the case, I am looking for a possible retest of the T1 trend line before the main downtrend will resume. 

Monday, November 7, 2011

DAX Technical Analysis 2011.11.07

Bearish signal on DAX if it breaks below T1 trendline

DAX index failed to reach last week the highs of 27th of Octomber  and, most likely, formed the corrective wave [ii] as a part of the 5 wave impulse move towards the mid-september lows.

The channeling of wave 2 (composed of [a], [b], [c] sub-waves) shows the importance of T1 trend line. This will basically give further evidence of wave 3 developing.

Although maybe it’s too soon, I will take my chances in saying that the end of wave 3 will take place well below the mid-September lows in the 4,970 area.

A possible future scenario is plotted on the 4h chart and the most important aspect to follow is a consolidation in the 5,000-5,500 area as a wave [iv] is likely to form there.