How to Easily ID Support and Resistance on Your Charts
See an example in the chart of Bank of America (BAC)
by Debbie Hodgkins
Updated: January 23, 2017
You've probably heard the terms "support" and "resistance." Common technical analysis terms, they are price points on a chart that can help determine when a move will pause, or even stop and reverse.
There are many different ways to identify support and resistance on your charts. In this 6-minute lesson, the editor of our Trader's Classroom education service, Jeffrey Kennedy, shows you one of the easiest and most effective methods (example: Bank of America, NYSE: BAC).
Watch Introduction to the Wave Principle Applied
In this free 15-minute video, EWI Senior Analyst Jeffrey Kennedy explains how to take the Wave Principle and turn it into a trading methodology. You'll learn the best waves to trade, where to set your protective stop, how to determine target levels, and more.