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, February 16, 2012

OMV Petrom (SNP) Technical Analysis 2012.02.16

The target given in the analysis from 13 February ( ) was reached during the Tuesday’s session and the support from the 0.3650 level (Fibonacci 50%) was broke in the previous session.

Further, on short term, a correction with support in 0.3300-0.3440 RON area is probably. To establish the daily resistance it can be consider the highs of previous sessions.

February volumes down support a correction in the next period.

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