Today we will analyze the index MerVal Argentina (MERV) for internet stock trading in the INDICES stock market,
Stock Technical indicators to notice in MerVal Argentina (MERV)
1- Last bearish trend was from 2,765.22 $ (3/16/2012) to 2,195.22 $ (5/3/2012) a 570.00 $ move 2- The current bullish trend started from 2,195.22 $ at 5/3/2012 and is currently trading at 2,335.01 $.
3- MERV current support level is at 2,329.74 which is the 23.60 % fibonacci retracement of the last 570.00 $ move.
4- MERV current resistance level is at 2,412.96 which is the 38.20 % fibonacci retracement of the last 570.00 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.
MerVal Argentina (MERV) Short term stock chart patterns for internet stock trading :

6- The Index formed Double Top Pattern at 2,765.220 .
MerVal Argentina (MERV) Mid term stock chart patterns for internet stock trading :

None.
MerVal Argentina (MERV) Long term stock chart patterns for internet stock trading :

7- The Index formed Double Bottom Pattern at 2,400.330 that failed and formed a resistance.

Stock Trading Conclusion:
MerVal Argentina (MERV) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .

Stock Resistance Levels : 2,337.06, 2,412.96, 2,480.22, 2,547.48, 2,621.93, 2,629.44, 2,765.22, 2,775.52, 2,783.44, 2,791.36, 2,920.26, 3,117.48.
Stock Support levels : 2,329.74, 2,302.02, 2,281.61, 2,265.11, 2,248.62, 2,195.22,.