Support levels are price-lines at which the market had difficulties to break below, signalling that buyers may join the market again if the price falls to a key support level. Typically, key chart levels are identified by support and resistance lines, which act as barriers for the price when reached from the upside or downside, respectively. Traders look out for key chart levels to place their buy and sell orders around those lines, which accelerates price-moves and increases volatility when the price reaches those levels. Key chart levels are important technical levels at which a financial instrument could face increased buying or selling pressure. Learn more, take our free course: Trends, Support & Resistance.
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