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 27, 2012

DJIA Technical Analysis 2012.01.27

DJI Index traded yesterday in the resistance area set by May and July 2011 highs (12,752-12,880) and formed a spinning top candle, preventing though the bulls of a possible reversal.

The main aspect to watch now in case of a decline is the trend line T1 and an eventual break below it will set the market for further decline.

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