XJO 1.75% 8,092.3 s&p/asx 200

tidy tuesday, page-157

  1. 9,803 Posts.
    volt, interesting aspect that. There are some that say the whole zone is an s/r area, other say the tops and bottoms are s/r levels, but some say that on the way down its the bottom of the congestion zone that is support, and on the way up, its the top of the zone that is resistance. That makes sense. But from my observation, the whole zone is a potential turning point, just as it was at the original formation. Usually the boundaries serve as s/r, depending whether coming down or going up. In short, I'm not sure how much emphasis to put on a penetration of the zone but yeah, penetrating it is more bullish than not I guess but penetrating the top of it separates the bulls from the asses :-) cheers!.
 
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