I believe this is precisely where the best get their edge on the market, when it comes to moving averages.
Take a look at the 1600 simple moving average and tell me price doesn't react to it. The 1600 with price channel envelope is one of my most useful and dependable long-term trading systems and gives way bigger gains than say a 50 SMA price channel.
I've seen the same situation over a hundred times from currency pairs, to commodities, to stocks. It's a powerful moving average that has a strong effect on the market