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Could you please put support and resistance lines on charts in Shares and Shares Weekly?

Could you please put support and resistance lines on charts in Shares and Shares Weekly?

I deliberately avoid giving precise prices/index values for support and resistance lines on charts. This is because support and resistance are not precise price levels or index values. Putting precise price levels or index values on them would convey a precision that is not intended nor realistic.

Support and resistance reflect the behaviour of buyers and sellers. They are the price levels at which supply (resistance) or demand (support) have emerged in the past. Buyers remember and act on these levels again and again when prices get near them again. The key word here is NEAR. Sometimes people beat the gun and act before the level is reached, in anticipation. At other times, there is such power in the move approaching the level that demand or supply kicks in late and there is an over-shoot of the level. This can easily be seen on charts.

So, I would like to be able to put a band or range on the charts, and do sometimes, when it is possible considering the scale of the chart. Usually I am limited to only a line.

As an example, the low on the S&P 500 in September 2001 was 944.75. On Tuesday this week the low was 945.54. On Wednesday the low was 934.84. If Tuesday had turned out to be the low for the current trend, I would have said that support at the September low had held. But equally, if Wednesday's low (yesterday, so I do not know at time of writing this) turns out to be the low for the current trend, I would still say that support had held.

By the way, you can zoom in on the charts on the pdf file, to get a better idea of detail on the charts.

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