RE: Nice little bounce13 May 2022 13:29
Round numbers seem to act like this. 120 on my charts will be the same once it hits that area.
Could be sell orders set up round that area. Algo traders are using that number to sell off.
Seems now to be meandering just under 115 now. the VWAP is 114.55 which is bang on where the price has been for around 2 hours. I know lots of investment banks trade off the VWAP number. They try to buy when the price is under and sell when the price goes over.
I am sure someone with more knowledge of day trading will know more than I do about these things.