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 12, 2012

Bank Of America is set for a rally. 2012.03.12

Bank of America is trading within a range for a few weeks, between the $7.65 and $8.40 levels, developing a high probability scenario for a buy transaction.

The volume average of the sideways market and the strong support in the $7.65 area could trigger some signals for the bulls. Moreover, the only two sessions with high volumes were created on rising days that mean, the most probable, that buyers are loading.

The first target is very close (in the $8.40-$8.90 area) but if it will settle as a support than the target price will be set in the $10.13 and $11.00 areas.