Disliked{quote} Classic technical analysis by Magee allows for one penetration. 9th edition of Technical analysis of Stock Trends Even with that the Close remains below this "line of resistance". Nothing is ever certain, but with each passing days closing price being below the line, the probabilty that it will continue to close below this line increases. Dont know who said it but it rings true... "The trend is the trend until it is no longer the trend"Ignored
The market is dynamic and you need to develop a certain feel for how it moves and how it interacts with certain levels. In this case, I have said that 104.60 seems to have held perfectly.
Do not preach to me or tell me how to do technical analysis, because I am the king of it.
It is not all linear but instead dynamic.
Please check out my blog at https://from-zero-to-hero . net