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, February 7, 2012

Fondul Proprietatea (FP) Technical Analysis 2012.02.07

Monday session closed relatively well, after in the first part, the sellers tested the upper limit of the support area (0.5077 RON level).

Further on, the price direction is uncertain because of the 0.5360-0.5650 RON resistance area strong influence. The strong sentiment of optimism seems to have diminished but, as it was specified in the previous analysis (, an eventual broke of the support area will create a broader correction outlook, with target/support in the 0.4550-0.4650 RON area.

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