S / R Levels - Dec 2 - 6
The trend is intact if the central level stays in support position. Next week the levels will be tight, signal of a relevant move coming. These levels set the specific difference between bull and bear
Setting support and resistance levels is a fundamental principle in technical analysis that helps traders and investors identify potential price levels where a security may find a bounce or rejection.
These levels can be used to:
Identify Potential Reversals: When a price breaks above a resistance level, it often signals a potential bullish reversal. Conversely, a break below a support level can indicate a bearish reversal.
Set Stop-Loss Orders: Support and resistance levels can be used AS A REFERENCE to set appropriate stop-loss orders to limit potential losses.
Confirm Trend Direction: A break above a resistance level can confirm an uptrend, while a break below a support level can confirm a downtrend.
Identify Potential Entry and Exit Points: Support and resistance levels can be used to identify potential entry and exit points for trades.
By effectively using support and resistance levels, traders can make more informed decisions and improve their trading strategies.
This publication includes the key support and resistance levels for the week and month ahead considering 20 securities; these levels have proven their worth as a validator of bullish or bearish setups.
Three points before the Weekly and Monthly Levels:
The Weekly Compass most likely will be published on Sunday morning New York Time, it will include the most relevant monthly charts.
If you trade some of these securities, the premium publications are for you:
SPX, NDX, DJI, IWM, TLT, SPY, QQQ, GOOG, AAPL, TSLA, NVDA, META, MSFT, AMZN, GDX, SILVER, NAT GAS, ES Futures, NQ Futures, DAX, Bitcoin, or Ethereum.
Given the holidays, it’s worth mentioning that the latest Fundamental edition was for semiconductors, delving into Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO).
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Weekly S/R Levels