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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Tuesday, January 10, 2012

Apple signs of reversal 2012.01.10

The h4 chart of Apple shows bear resistance in the $422-426 area, as expected (see previous analysis

There are several clues which attract bears attention and which proved to be respected in yesterday’s session:
1.       Mid Octomber highs
2.       T2 trend line – acts as resistance
3.       The three types of gaps usually found in an upswing

Bottom line is that at least a pullback is expected and if bulls will fail today to break through resistance zone that the chances to see lower prices are increasing. The strongest and closest support appears to be in the $405-409 zone. 

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