What is a resistance level?
What is a resistance level?
A resistance level is a general level where prices have not been pushing upwards for a certain period. This occurs when there are sellers at the price level, preventing the price of the asset surpassing above that level. With regards to technical analysis, a resistance level may be drawn with a line across the highest highs for the time being considered.
Have you ever found that your trading system works great one day but fails miserably the next? If so, your problem is likely market-type identification. Too many forex traders will trade the same way no matter how the market is behaving. Instead, you should identify the market type first. Then, you can devise a strategy appropriate to that market type. Sounds simple, right?
While India is dealing with one of the worst health crises in its history, its leading stock indices are holding steady. The stability is likely linked to the rise in heavy commodity prices such as copper and aluminum. Indian heavy industry companies included in these indices are benefiting greatly from the increase in commodity prices. The share price in some heavy manufacturers is up by more than 20% over the month. With the rise in commodity prices, the NRI has strengthened to yearlong highs against the USD. In contrast, the NRI is struggling to gain ground against its other major partners.
The rise in New Zealand house prices over the past 12 months has been extraordinary. As a result, Finance Minister Grant Robertson has moved to increase the scope of the Reserve Bank’s concerns. Moving forward, the Reserve Bank must consider the price of NZ property in conjunction with the other issues it monitors and controls. Since its new mandate, the Reserve Bank has begun to flesh out its understanding of the country’s housing crisis and how it will affect its policy decisions.
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