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:
“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)
“It was not seen that woman’s place was in the home until she began to go out of it; the statement was a reply to an unspoken challenge, it was attempted resistance to irresistible change.”
—Rose Wilder Lane (1886–1965)
“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)