From the Desk of Ian Culley @IanCulley
Price must hold above key support levels when defining a range or uptrend.
It might sound simple. Yet investors often sideline these crucial levels in favor of the latest headline.
I read the news daily and support journalists fighting the good fight. However, I don’t incorporate what I read in the papers into my market analysis.
Instead, I focus on price and the critical areas seared into the collective memory bank – support and resistance.
Perhaps you can guess my response when a reader recently asked, “What will it take for crude oil to break down?”