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:
“How is freedom measured, in individuals as in nations? By the resistance which has to be overcome, by the effort it costs to stay aloft. One would have to seek the highest type of free man where the greatest resistance is constantly being overcome: five steps from tyranny, near the threshold of the danger of servitude.”
—Friedrich Nietzsche (1844–1900)
“Growing older, I have lost the need to be political, which means, in this country, the need to be left. I am driven into grudging toleration of the Conservative Party because it is the party of non-politics, of resistance to politics.”
—Kingsley Amis (1922–1995)
“The aim of every political association is the preservation of the natural and imprescriptible rights of man. These rights are liberty, property, security and resistance to oppression.”
—French National Assembly. Declaration of the Rights of Man (drafted and discussed August 1789, published September 1791)