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Harmonic Patterns

Support and Resistance part 2In technical analysis, support and resistance refer to price levels on a chart where the market's movement is expected to pause or reverse due to the forces of supply and demand. Support is a price level where the price has historically stopped falling, indicating that buyers are plentiful at that price point, and that the market is likely to bounce back upwards. Resistance, on the other hand, is a price level where the price has historically stopped rising, suggesting that sellers are abundant and the market is likely to fall back down.
NSE:HDFCBANKEducation
by SkyTradingZone
RSI Divergence RSI divergence in trading occurs when the price of an asset and its Relative Strength Index (RSI) indicator move in opposite directions. This divergence suggests a weakening of the current trend and a potential reversal. For example, if the price makes a new high, but the RSI makes a lower high, it could indicate bearish divergence and a potential price drop. Conversely, if the price makes a new low, but the RSI makes a higher low, it could indicate bullish divergence and a potential price increase.
NSE:NIFTYEducation
by SkyTradingZone