RE: Chart3 Nov 2019 17:32
hi Nige, the turning points are resistance points, most people are technical traders. That's with out Bank traders or hedge funds etc who can really turn direction with large amounts of buying or selling. That's where they would decide to take profit/ buy etc, then everyone else will just follow suit amplifying the effect until the next point on the chart.. not everyone is in it for the story they are here to make money and move on its not 100% tho, but you can bet its more effective than buying or selling blind. This chart will go back up as do all charts but i wouldn't be buying until the next support at 480p or if i did want to wait for a break above 666p ... so for the minute im short selling down to 480p, then i would look to buy again at that area.
we are in a bit of a 'bullish triangle' google it for anyone who doesnt know what that is then look at my chart... the rerwl move up or down will be on the break of that.