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, February 17, 2012

BRD-Groupe Societe Generale (BRD) Technical Analysis 2012.02.17

The closing below the support level of 11.00 RON generated a sell signal for BRD securities which have free path in the previous lows areas from the 10.00 RON level.

The bulls failed to take the price above the 11.50 RON area in the previous weeks, thus showing the weakness of the upward movement.  

The first resistance is now the 11.00 RON level (the former support).

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