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

Erste Group Bank (EBS) Technical Analysis 2012.01.30

The Erste Group Bank shares (EBS) had a strong rally in the past couple of weeks, managing to break above the key levels of 60.22 RON and 70.00 RON.

A large target zone of this current rising move is between the 88.00 and 113.15 Ron levels, set by the 38.2% and 61.8% Fibonacci retracement of the July-November decline.

The support zone is given by the past two key levels, between 60.22 and 70.00 RON and an eventual retest of it before making new highs is possible.

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