Resistance
A resistance level is the opposite of a support level. It is where the price tends to find resistance as it is going up. This means the price is more likely to "bounce" off this level rather than break through it. However, once the price has passed this level, by an amount exceeding some noise, it is likely that it will continue rising until it finds another resistance level.
Read more about this topic: Support And Resistance
Famous quotes containing the word resistance:
“It is not the first duty of the novelist to provide blueprints for insurrection, or uplifting tales of successful resistance for the benefit of the opposition. The naming of what is there is what is important.”
—Ian McEwan (b. 1938)
“High treason, when it is resistance to tyranny here below, has its origin in, and is first committed by, the power that makes and forever re-creates man.”
—Henry David Thoreau (1817–1862)
“He made no resistance whatever, and was stabbed in the back.... I must not dwell upon the fearful repast.... Words have no power to impress the mind with the exquisite horror of their reality.”
—Edgar Allan Poe (1809–1849)