A Tutorial on Support and Resistance - Part 1. What are Support and Resistance ? Support - Is the price level from where people expect maximum buying/demand to come. 1. Price is falling and it is expected to reverse and move up from Support. 2. Support level is always below current price level. 3. Is used to create buying positions or book profits in shorts. ...
Description of analysis mentioned on chart with Targets.
REC LTD has broken resistance trend line and will move skywards ....
It seems to be moving in an upwards channel pattern. Support / Resistance marked on chart. Looks like it will touch the upper RESISTANCE LEVEL (LIGHT BLUE LINE) and fall back.
Crude oil chart posted earlier today.... same one updated with RESISTANCE LINES. Channel has been broken and now it remains to be seen if RESISTANCE will be broken on upwards movement.