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Post# of 869311
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ClayTrader

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ClayTrader

Re: Fross post# 111382

Thursday, 08/15/2013 12:32:01 PM

Thursday, August 15, 2013 12:32:01 PM

Post# of 869311
Why would I? Because it is a FACT that it 'is' a level of support. It's the 200-SMA! That is basic basic basic charting.

And an FYI... just because someone talks about a level of support, does NOT mean they are saying, "that is where the price is headed", they are simply stating a technical observation.

Example. $5.44 is a level of resistance on the chart (very basic). Does that mean I'm saying the price is headed up to $5.44 anytime in the near future? NOPE... all I'm doing is stating an observation.

Truly, this is not rocket science.

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