$ZRO broke through the 1.6 level.
Let’s use this number to talk about key price levels.
One pattern is that resistance levels that are decisively broken often become support levels afterward, while support levels that are decisively broken often become resistance levels.
Breaking through a key level only shows that one side has the upper hand for now. How much farther the price can go depends on where the next key level lies and whether trading volume can be sustained.
The same reading can mean very different things in different market conditions, so don’t apply any one rule mechanically.
Let’s use this number to talk about key price levels.
One pattern is that resistance levels that are decisively broken often become support levels afterward, while support levels that are decisively broken often become resistance levels.
Breaking through a key level only shows that one side has the upper hand for now. How much farther the price can go depends on where the next key level lies and whether trading volume can be sustained.
The same reading can mean very different things in different market conditions, so don’t apply any one rule mechanically.