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[sharechat] Resistance & support

From:	"Piet Venter" <piet@pica.co.za>
Date:	Fri, 10 Jan 2003 12:39:30 +0200

Hi.

I have question about resistance/support levels. I understand that resistance is normally a projective for buyers, a level set on a previous high. Once it is broken, it can become a support. Recently someone argued with me that in a bearmarket, the resistance and support levels switch. They say that in a bear market a support level is at the top while a resistance is at the bottom. How true is that? As far as I am concerned, resistance on a specific chart is always the top level while support levels is always at the bottom.

Please help.

Piet PC Venter

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Re: [sharechat] Resistance & support Holden Glova

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