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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Monday, January 16, 2012

Alcoa is on the watch list. 2012.01.16

Alcoa share price ended last week close to T1 resistance line which is clearly the most watched level ($9.80) in the future price action.

Without commenting anything about the fundamentals, the technical facts puts Alcoa on the watch list and the scenario plotted on the daily chart should be followed.

The double bottom in the $8.48 area correlated with the eventual break of T1 trend line will lead to buying opportunities. The first target in this case will be in the $11.23-11.60 area. 

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