Technical Note | $ICNT | Breaking through the 0.17 level
First, a definition: support and resistance are more like zones than precise decimal-point levels. It’s normal for prices to seesaw around them.
Next, how to read them: when prices repeatedly cross above and below a key level, traders on both sides may get shaken out. Until the direction becomes clear, staying on the sidelines is often the safer approach.
Unusually extreme readings are usually accompanied by greater volatility. At such times, it’s better to reduce your position rather than place a large bet.
#ICNT
First, a definition: support and resistance are more like zones than precise decimal-point levels. It’s normal for prices to seesaw around them.
Next, how to read them: when prices repeatedly cross above and below a key level, traders on both sides may get shaken out. Until the direction becomes clear, staying on the sidelines is often the safer approach.
Unusually extreme readings are usually accompanied by greater volatility. At such times, it’s better to reduce your position rather than place a large bet.
#ICNT