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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