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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Monday, March 5, 2012

DJIA Technical Analysis 2012.03.05

The DJIA Index is still trading within the bullish channel started on the 28th of December but the bear pressure in the T1 line area could lead into a sell-off in the next few days.

In the month of February, the bulls failed several times to reach the upper limit of the channel, suggesting the weakening of the bullish trend.

The main support is at the $12.930 level and the eventual break of it will lead to a drop as the bears will gain more power and the bulls will be stopped out.

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