Sentences with phrase «trend channel resistance»
We'll be closely monitoring the price action of both $ QQQ and $ IWM in the coming days, as the ability or inability of these indexes to move back above their 200 - day moving averages, horizontal price resistance, and trend channel resistance may determine the tone of the broad market trend for the rest of the year.
http://www.morpheustrading.com/ Not exact matches
We further commented that «trend channels provide an excellent gauge for determining support and resistance levels.»
Since that time, both QQQ and SPY have continued to find resistance near the upper level resistance of their respective ascending trend channels, and support near the bottom of their trend channel.
Yesterday, for example, the PowerShares Nasdaq 100 ETF ($ QQQ), a popular ETF proxy for the Nasdaq 100 Index, rallied into resistance of the upper trend line of its ascending trend channel, then sold off to close in the middle of its intraday range.
Like $ QQQ, the S&P 500 SPDR ($ SPY), an ETF that represents the benchmark S&P 500 Index, has also found resistance near the upper trend line of its trend channel.
In this case, the trend channel suggests QQQ should find support near - term support around the $ 62.40 area and its next near - term resistance near $ 66.00.
Litecoin turned lower off the upper boundary of the long - term trend channel, and it's now testing the $ 64 support / resistance level again.
By extending a parallel line from the trend line, we can form a trading channel that is useful for anticipating support and resistance areas.
This day trading setup by Jake Bernstein uses a moving average channel to figure out trend and key support and resistance levels.
This is a broad category of support and resistance identifiers that include trendlines, trend channel lines and regression lines.
The market then trended higher to retest former channel support, which acted as resistance.
An equidistant channel is formed by two parallel trend lines — one acts as support while the other acts as resistance
The equidistant channel is formed when price action finds support and resistance between two parallel trend lines.
Only a high volume break above the falling channel resistance would signal a bearish - to - bullish trend change.
Resistance is tracking at the upper trend line of the descending channel, $ 66.