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:
“Hence to fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy’s resistance without fighting.”
—Sun Tzu (6–5th century B.C.)
“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)
“The greatest, or rather the most prominent, part of this city was constructed with the design to offer the deadest resistance to leaden and iron missiles that might be cast against it. But it is a remarkable meteorological and psychological fact, that it is rarely known to rain lead with much violence, except on places so constructed.”
—Henry David Thoreau (1817–1862)