Technical note | $ARC | Breaking through the 0.06 level
First, the definition: Common ways to determine whether a break below a level is valid include closing on the other side of the level, retesting it without breaking back above, and seeing trading volume expand during the break.
Next, how to read it: The first rebound after a breakdown is often seen as a test. The idea that support has turned into resistance is more convincing if the price is turned back below the level.
The same reading can mean completely different things in different market conditions, so don’t apply any single rule mechanically.
#ARC
First, the definition: Common ways to determine whether a break below a level is valid include closing on the other side of the level, retesting it without breaking back above, and seeing trading volume expand during the break.
Next, how to read it: The first rebound after a breakdown is often seen as a test. The idea that support has turned into resistance is more convincing if the price is turned back below the level.
The same reading can mean completely different things in different market conditions, so don’t apply any single rule mechanically.
#ARC