The previous analysis of Bank of America (http://markettechnicalview.blogspot.com/2012/01/bank-of-america-is-on-its-way-to-840.html) showed a temporary resistance in the $7.4000.
The BAC share price declined for a few days and found support at $7.0400 level as the bulls managed to dominate the bears. Yesterday’s session retested the current resistance ($7.4000) and the eventual break of it will confirm the bullish trend resuming (on short term).
The first target still stands in the $8.40-$8.90 area.
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