This major resistance has held 5 times in the last 2 years and broken once support once before it broke down upon the outbreak of Covid.
This line also coincides with the 78.6 retracement which according to Elliot wave theory means that if we break this line we are going back to all-time high's.
Who knows what this market can do with all of the liquidity...
the S&P struggled with this key resistance trend line for over 18 months before finally breaking it towards the end of last year. It should pose massive resistance. I would not be surprised if this is where the market turns back around.
I am still new to TA, can someone please confirm with me whether an upward resistance line like this is still significantly...
