$IDOL fails to hold the 0.02 level.
Let's use this figure to talk about round-number levels.
A commonly cited pattern is that resistance levels that are decisively broken often become support, while support levels that are decisively broken often turn into resistance.
It's not uncommon for prices to break through a level and then fall back below it, so many people wait for the close to confirm that the price is holding above it rather than following the move the moment it breaks through.
The point of understanding an indicator is to avoid being misled by numbers, not to use it to pinpoint tops and bottoms.
Let's use this figure to talk about round-number levels.
A commonly cited pattern is that resistance levels that are decisively broken often become support, while support levels that are decisively broken often turn into resistance.
It's not uncommon for prices to break through a level and then fall back below it, so many people wait for the close to confirm that the price is holding above it rather than following the move the moment it breaks through.
The point of understanding an indicator is to avoid being misled by numbers, not to use it to pinpoint tops and bottoms.