It's been bouncing off that line since 12th Dec.
...there is strong resistance on this line.
...there is strong resistance on this line.
There is a classical TA rationale for establishing horizontal support/resistance levels where the price touches from both sides repeatedly. There is no rationale evident for establishing a descending (or ascending) support/resistance level where the price touches from both sides repeatedly. If you have such a rationale, please do share it. It would quite an innovation in technical analysis.




