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 30, 2012

BET-FI Technical Analysis 2012.01.30

BET-FI Index achieved the early November target ( in the 21.500-22.800 area, projecting though a three wave pattern started in early October.

A longer time analysis shows that an important trend line (T1) that connects 2010 and 2011 highs was breached last week and this could have longer time bullish implications. However, the price is still facing some important resistance levels in the 22.800-23.000 area.

The current strategy will be to monitor the price action nearing the resistance levels and take precaution measures in case there will be a reversal here. The Greek debt issue and the whole bailout plan regarding Europe is still the main concern of investors.

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