Market Notes｜$BMT ｜Breaking through the 0.025 level
Definition: Previous highs and lows are the most common reference price levels. Whether the price was previously pushed back or supported at a given level can influence buying and selling when it returns there.
A further note on how to read this: When the price returns to a level after a long time, people who bought in around that level before may break even and exit or add to their positions, so trading activity often picks up.
Several data points that corroborate one another are more reliable than looking at just one, but even more signals can’t provide a definitive answer.
Just my personal take; I may be wrong, so please use caution.
Definition: Previous highs and lows are the most common reference price levels. Whether the price was previously pushed back or supported at a given level can influence buying and selling when it returns there.
A further note on how to read this: When the price returns to a level after a long time, people who bought in around that level before may break even and exit or add to their positions, so trading activity often picks up.
Several data points that corroborate one another are more reliable than looking at just one, but even more signals can’t provide a definitive answer.
Just my personal take; I may be wrong, so please use caution.