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, April 10, 2012

DAX Technical Analysis. 2012.04.10

The DAX Index broke below the support of 6,840 and it transformed it in the first resistance for the next days.

Even if the Index rose this morning, the bulls seem powerless to the general negative sentiment. The short term target is set in the 6,270-6,500 area (6,400 as an equilibrium level) but a rally towards the 6,840 resistance level is not to be overlooked.


Bank Of America reached the $8.92 support. 2012.04.10

Bank of America was the most affected company after the US Non-Farm Payrolls on Friday and it has dropped by 3.25%, reaching though the $8.92 support level.

The current support level is created by the 38.2% retracement level and the lower limit of the mid-term rising channel. The low volumes in the past weeks are confirming the corrective move and the European optimism could continue in the US session and produce a bounce off the support level.

In case of a reversal in this area, the target will be in the $11.00 area and the first resistance will be in the $10.00 area. However, the financial stocks are known to be vulnerable to market news and especially to FED talks. 

Monday, April 9, 2012

SP 500 Technical Analysis 2012.04.09

The US markets  were closed on Friday and are closed today, therefore the spot price for S&P is stuck at $1,398 but the futures plunged as the Non-Farm Employment Change came half than expected on Friday report.

The futures price is currently steady in the $1,378 area and it is expected to stay that way until tomorrow.

The larger picture shows a good support in this area, provided by the late February local highs. However, the chances are that an intermediate correction has started and we are looking for lower levels for the next weeks.

AT&T strong resistance at $32.00. 2012.04.09

AT&T shares price reached the 2011 highs last month and it seems like the investors considered the $32.00 area as a good price to sell.

Therefore, the price dropped almost 3.0% in less than three weeks and it stopped at the T1 trend line support that connect the November and the January lows. On the mid-term, the price formed a rising wedge pattern that was framed by T1 and T2 lines.

The possible scenario will be triggered by a break below the T1 trend line and a correction towards the 50% retracement level of the November-March swing up. The first support is in the $30.50 area and the eventual break of T1 line could be quickly followed by a retest of the current support.