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, January 6, 2012

Apple short term chart 2012.01.06

Apple is trading around the $417,00 level, in a rising trend since the 25th of November.

As mentioned in the previous analysis ( ), there is a strong resistance between the $422.86 and $426.50 levels (where the mid October highs are). Furthermore, there is also the T2 line getting closer and this will act as a resistance (it is parallel with T1 line).

The plotted price action on the h4 chart is not a must but it is a relevant scenario to watch and action should take place when other signals will add up. The first support is at $408.30, which was tested several times in the past.

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