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, January 23, 2012

Google confirmed the bearish scenario. 2012.01.23

Google price gapped down at the end of last week, concluding a break-retest-continuation scenario that was followed since 10th of January (http://markettechnicalview.blogspot.com/2012/01/google-at-support-scenario-in-case-of.html) .

The closest support is now at $579.00 level, representing the 50% retracement of the October-January up swing. The main target is in the $560.00 area, as plotted in the previous analysis. 


Posted by Adrian Filip at 2:11 PM
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