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 31, 2012

OMV Petrom (SNP) Technical Analysis 2012.01.31

The buying signal for OMV Petrom (SNP) shares on January 23 ( currently has a yield of about 8.0%.

The 0.3240-0.3440 RON resistance area remains very important for the future price evolution and at this moment it keeps its resistence function.

On very short term (intraday or within a few days) the lower limit of above mentionated area (0.3240 RON) represents the first support and a price decrease under this level will generate a sell signal. The first target/resistence is given by the upper limit of the current area, at 0.3446 RON level.

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