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.

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Monday, January 30, 2012

Erste Group Bank (EBS) Technical Analysis 2012.01.30

The Erste Group Bank shares (EBS) had a strong rally in the past couple of weeks, managing to break above the key levels of 60.22 RON and 70.00 RON.

A large target zone of this current rising move is between the 88.00 and 113.15 Ron levels, set by the 38.2% and 61.8% Fibonacci retracement of the July-November decline.

The support zone is given by the past two key levels, between 60.22 and 70.00 RON and an eventual retest of it before making new highs is possible.


Posted by Adrian Filip at 9:41 AM
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