Hello sir, As per your chart , you have considered weekly support, but in weekly chart currently market in Weekly resistance also..Can you clarify the same
thebullstreet07
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@vnkumaran hi, thanks for your question. when we look at either support or resistance it's important we see how the price reactions. the horizontal line in weekly resistance now converted to weekly support because when price was breaking it, the same time price has been making a higher high higher low formation. therefore recently that support is being respected. resistance on the other hand is not significant if it is not supporting the other ideas of reading prices.