Looking at the price chart above,the chart is a 6-month sterling bank,there are two horizontal lines drawn on the chart,the first resistance linewas broken mid-january 2010 and price has not retraced to this level,but the second resistance line was broken mid-february and it is being tested the fourth time,see how prices kept bouncing off this point,this line is resistance turned support.this is a very good illustration.
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Please click on the image to get a clearer view.Thank you.
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