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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Thursday, February 9, 2012

Bursa de Valori Bucuresti (BVB) Technical Analysis 2012.02.09

The last analysis of Bursa de Valori Bucuresti (BVB) issuer (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-bursa-de-valori_16.html ) signaled incertitude in the bullish price direction.

However, once the 30.00 RON resistance level was broke, the investors bet on a bullish move and brought the price to the 50% Fibonacci retracement of the entire decline of 2011 year.  

The most important resistance area for the next days is delimited by 36.50 and 37.55 RON levels. The daily support is very close to the last day’s closing, at 35.25 RON and an eventual closing below this level will set the market for a correction with the target to the next support, in the 33.00 RON area.


Posted by Adrian Filip at 12:59 PM
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