Market Notes｜$AKE ｜Lost the 0.03 Level
First, a definition: A commonly cited principle is that a resistance level that is decisively broken often later becomes support, while a support level that is decisively broken often later turns into resistance.
Next, how to read it: It’s not uncommon for prices to cross a level and then fall back below it. That’s why many people wait for the close to hold above the level before treating it as a breakout, rather than following the move the moment it crosses.
The same data can mean very different things in different market conditions, so don’t apply any single rule blindly.
#AKE
First, a definition: A commonly cited principle is that a resistance level that is decisively broken often later becomes support, while a support level that is decisively broken often later turns into resistance.
Next, how to read it: It’s not uncommon for prices to cross a level and then fall back below it. That’s why many people wait for the close to hold above the level before treating it as a breakout, rather than following the move the moment it crosses.
The same data can mean very different things in different market conditions, so don’t apply any single rule blindly.
#AKE