In relation to technical analysis,what is the level above which the market finds it difficult to rise?
A) Trend channel
B) Resistance level
C) Support level
D) None of the given answers are correct

Question

Quizplus · Accepted Answer

The level above which the market finds it difficult to rise is known as the resistance level. It is a key level in technical analysis as it indicates a point where traders may consider selling or shorting an asset. The resistance level is determined by looking at past price movements and identifying where the price has consistently struggled to go higher. Once the price reaches the resistance level, there may be an increase in selling pressure, which can cause the price to reverse and start moving downwards.

In Relation to Technical Analysis,what Is the Level Above Which