MSFT pierced above resistance on a weekly chart. Last week, it fell back to that area of resistance. We can observe this principal gong forward: PAST RESISTANCE = FUTURE SUPPORT.
It is not a guaranteed ruling, but it is a principle that is time-tested and there is some evidence that psychological levels do exist in the markets. Maybe this one will pan out.
:)
It is not a guaranteed ruling, but it is a principle that is time-tested and there is some evidence that psychological levels do exist in the markets. Maybe this one will pan out.
:)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.