Technical Notes | $RLC | Holding above 1.25
First, a definition: A support level is a price zone where declines have repeatedly stalled in the past. A resistance level (also called a resistance zone) is an area where rising prices have been repeatedly held back.
A common way to read it: The first pullback after breaking above a level is often seen as a litmus test. If the price can stabilize near that level, the idea that resistance has turned into support becomes more convincing.
The purpose of understanding an indicator is to avoid being misled by numbers—not to use it to pinpoint tops and bottoms.
Not a buy or sell signal.
First, a definition: A support level is a price zone where declines have repeatedly stalled in the past. A resistance level (also called a resistance zone) is an area where rising prices have been repeatedly held back.
A common way to read it: The first pullback after breaking above a level is often seen as a litmus test. If the price can stabilize near that level, the idea that resistance has turned into support becomes more convincing.
The purpose of understanding an indicator is to avoid being misled by numbers—not to use it to pinpoint tops and bottoms.
Not a buy or sell signal.