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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Tuesday, March 27, 2012

Crude Oil (WTI) Technical Analysis. 2012.01.27

The daily chart of the Crude Oil (WTI) shows a bullish trend in the last 6 months that has good chances to resume if the $104.00 support will hold.

The stochastic oscillator signaled good buying opportunities when it crossed below the oversold border (at 30) while is evolved for longer periods in the overbought areas, typical for a bullish trend.

The month of March formed a bearish channel that is, the most probable, a corrective move for the up-trend. However, if the stochastic oscillator is to be considered, than the buyers should initiate their positions when the fast %D brakes below the 30 level.


General Electric (GE) rising wedge. 2012.03.27

General Electric share prices are forming a rising wedge on the mid-term, between the T1 and T2 trend lines.

The main support stands in the $19.50 area and are representing the previous highs of July 2011 and of February 2012.

The bullish action can easily be sustained up to the $21.00 area, where the 2011 highs are plotted. However, the bearish divergence on the MACD indicator reflects the weakness of the trend and an eventual decline below the $19.50 support and below the T1 trend line will set the market for an intermediate correction that develop in a matter of months.