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, April 23, 2012

Merck&Co (MRK) - still in good shape for a rally. 2012.04.23

Merck&Co shares price reacted to the $37.55-$38.00 support area and the last session showed surging volumes on a +0.96% day.

The mid-term outlook shows a rising trend, with higher highs and higher lows and the T1-T2 corrective channel provides a good opportunity for trend resuming.

The first resistance is in the previous highs area ($39.40) but the main target is in the $41.20-$41.50 area.

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