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.

Search This Blog

Wednesday, May 16, 2012

3M Co (MMM) - Reached the target area. 2012.05.16

The 3M shares price almost reached the $85.00 target set in the previous analysis of last Tuesday ( .

The $85.00 level could be interesting for a few bulls but given the fact that the $90.00 resistance proved that the bears are in control, the chances are, on the mid-term, that the current support will be broken.

If this scenario will turn out right than the next target on the down side will be in the $80.00 area. 

No comments:

Post a Comment