Support and resistance

Support and resistance

Support is a price level where the falling price tends to slow down or reverse. This means the price is more likely to "bounce" off this level rather than break through it. However, once the price has passed this level, it is likely to continue dropping until it finds another support level.

Resistance is a price level where the rising price tends to slow down or reverse. The price is more likely to bounce back from this level rather than break through it. However, a break above this level opens the way for further price growth until it finds another resistance level.

Support and resistance are often created by:

-          Previous highs and/or lows

-          Trendlines

-          Moving Averages

-          Fibonacci levels, etc.

 

Latest news

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On Tuesday, American equities were set to start lower because gloomy earnings from industrial bellwethers Caterpillar as well as 3M backed worries over Italy's finances, Saudi Arabia's diplomatic isolation as well as trade conflict fears…

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On Tuesday, an ugly start to EU trading pushed world equities towards their lowest value for a year due to the fact downbeat drivers from Saudi Arabia's diplomatic isolation to fears about Italy's finances as well as trade clashes pressured market…

Will the BOC surprise with a rate hike?

The Bank of Canada will release the interest rate on October 24 at 17:00 MT time.

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