Forex TAMIL NADU, Forex Trading TAMIL NADU, Forex Brokers TAMIL NADU, Forex Training TAMIL NADU, Forex Online Courses TAMIL NADU Technical Analysis Part I-Section III: Support and Resistance Forex TAMIL NADU, Forex Trading TAMIL NADU, Forex Brokers TAMIL NADU, Forex Training TAMIL NADU, Forex Online Courses TAMIL NADU Section III: Support and Resistance These two are probably the most important concepts in technical analysis. Basically, support and resistance are points or levels where forces of supply and demand meet. As the prices go down, the demand for one given instrument tends to increase, because it attracts buyers interested in cheaper prices. At some point, the demand for the given instrument will outperform the supply for it, making the price bounce back up from certain zone (support). This makes the price go up again, but there is again a certain zone in which the price is so high that it attracts more sellers interested in selling high. At this point, the supply for that instrument will outperform the demand for it, making prices to bounce back down again (resistance). Every one of us (at least must of us) have seen a demand curve back in our school and college days, so […]
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