Support and Resistance Analysis is key this month

2020年5月1日

marketkolor.com analysis suggests that Support/Resistence Trading strategies would likely be most successful at present. Support is where the price tends to stop falling, and resistance is where the price tends to stop rising. There are different types of support and resistance, such as minor and major (strong). Traders expect minor levels to be broken, while strong levels are more likely to hold and cause the price to move in the other direction. With this information we can then start making better trading decisions based on identified support and resistance levels.This is in comparison to Trend Trading strategies which may have worked better last month.Conversely, our analysis suggests that Trend Following Momentum Trading strategies would most likely be unsuccessful at present.