Hi Leannedawn,
I don't think resistance lines need to be horizontal. Maybe a channel with upper and lower lines is a better way to describe it. I don't profess to be an expert chartist.
On a 2 year chart I have an upper line running from 28 May 2008 high of $1.53 being hit on 11 January 2010 high of $2.14 and tested and holding again on 17 May 2010 at $2.26.
I have a lower line which forms the bottom of the channel running parralel to the upper line and last touched and held on 1 February 2010 at $1.47.
The lower line of the channel is now at $1.58.
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