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

United Technologies Corp (UTX) - Technical Analysis. 2012.04.23

The last six months in the United Technologies Corp created a bullish trend but the short term trend is bearish (last few weeks) and the T1 trend line acts as a support for the price.

The $81.50 level is a resistance set by the previous local lows (at the beginning ant at the end of March) and an eventual break below the T1 trend line will give a selling signal for the investors.

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.

DAX target at 6,400. 2012.04.23

DAX Index dropped today and it is practically retesting the previous local lows in the 6,550 area.

One of the previous analysis outlined the importance of the 6,270-6,480 area as a target and support for the price on the mid-term. The high volatility in the past few weeks shows the market corrective phase and the political aspects of France are looked as negative for the market.