However, the mentioned recovery was capped as coins faced sellers
near key resistance levels.
You notice that GBP / USD is also trading near a significant support level and both the USD / CHF and USD / JPY are trading
near key resistance levels.
As you will notice on the charts of the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average below, we are now at or
near key resistance levels on all three indices.
Additionally, it is important to note that several of the broad - based indexes are at or
nearing key resistance levels on their daily charts.
Not exact matches
The
key confirmation breakout
level is
resistance near $ 18.75.
Now that you are up to speed on
key near and intermediate - term support and
resistance levels in the broad market, consider setting price alerts on your trading platform so that you can be instantly notified when a
key level is violated.
The recent high - volume breakout above
key resistance at the $ 55.50
level, followed by lighter volume consolidation, means that a volume - fueled move above the three - day high of $ 58.00 could present a
near - term buying opportunity in this ETF:
We still expect a rally above the
key resistance zone
near $ 0.22
level soon as the effects of the broad correction wane.
In the chart below, we can see an obvious pin bar reversal setup formed
near a
key market
resistance level, indicating that a move lower was a strong possibility.
If the market does move higher from this pin bar we see
key resistance coming in
near 1.5830 — 1.5870 and any moves higher could be contained below that
level in the
near - term.
If the S&P manages to clear the 1,420
level, its next
key resistance is
near 1,440:
Further strong
resistance levels are ahead
near $ 240 and $ 280, while
key support is found at $ 175 and $ 150.
1) A
key resistance level was established
near 9735.00 — 9700.00 in the DAX30 market (German Stock Index).
In the chart below, we can see an obvious pin bar reversal setup formed
near a
key market
resistance level, indicating that a move lower was a strong possibility.
I suggest you check the average true range of the pair or market you are trading and make sure your stop loss is at least outside of that as well as beyond any
near - term or nearby
key support or
resistance levels.
If the market does move higher from this pin bar we see
key resistance coming in
near 1.5830 — 1.5870 and any moves higher could be contained below that
level in the
near - term.
What I have done here is simply drawn in the obvious
key support and
resistance levels and then highlighted the valid price action trade setups that formed
near these
levels.
Key resistance is coming in up
near 110.00 area and this
level could cause price to rotate significantly lower again if it tests it in the coming days.