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:
“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 free man is a warrior.—How is freedom measured among individuals, among peoples? According to the resistance that must be overcome, according to the trouble it takes to stay on top. The highest type of free man must be sought where the highest resistance is constantly overcome: five steps away from tyranny, close to the threshold of the danger of servitude.”
—Friedrich Nietzsche (1844–1900)
“Even the most subjected person has moments of rage and resentment so intense that they respond, they act against. There is an inner uprising that leads to rebellion, however short- lived. It may be only momentary but it takes place. That space within oneself where resistance is possible remains.”
—bell hooks (b. c. 1955)