Long
Broken Support Becomes Resistance for Price
Observe how the red line acts as resistance for the price since that support was violently broken.
However, this resistance weakens each time the price touches it. The price can explode upwards once it breaks above the resistance and reestablishes it as strong support.
However, this resistance weakens each time the price touches it. The price can explode upwards once it breaks above the resistance and reestablishes it as strong support.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.