Forum Archive Index - January 2003

[Holden Glova <dsafari@paradise.net.nz>]

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On Fri, 10 Jan 2003 23:39, Piet Venter wrote:
> 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

Perhaps this perspective is different depending on what the context of your 
trade is. Are you looking for long or short oportunities? If you where 
looking for short opportunities then yes I would say that what the other 
person was saying is true. If you are looking for long opportunities then you 
are correct.

Hope this helps somewhat.

- -- 
Signed,
Holden Glova
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