June 2006
Beginner
352 pages
7h 6m
English
book
Technical Analysis Plain and Simple: Charting the Markets in Your Language, Second Edition
by Michael N. Kahn
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Support and Resistance
Simply stated, support and resistance are respective price levels at which price stops going down or up. A price in any market is one at which bulls and bears have agreed upon fair value. If bulls think that the price is low, they will attempt to buy. This, in turn, raises demand and prices rise. As prices rise, bulls become less aggressive in their actions and bears become more aggressive. At some point, bullish and bearish aggressiveness will balance and that price level becomes resistance.
The converse is true for support as the aggressiveness of the bears falls while the aggressiveness of the bulls rises. When they balance, prices stop falling and support is established.
Notice that aggressiveness balances. Supply and ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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