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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Thursday, January 5, 2012

GLD Technical Analysis 2012.01.05

The SPDR Gold Shares price seems to react at the T1 trend line zone, as this surely represented a good support for the bulls.

Even though the long term chart shows a rising trend there are some clues that are warning the bulls of a possible break below the t1 trend line. One of the trend definition is creating two consecutive highs and lows in the same direction.  In this case, we are looking to lower highs and lower lows created in the last four months.

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