Monday, August 10, 2009

Upcoming Support and Resistance Levels for 8/10/09, this Week, and the Remainder of August

Jeffery Kennedy has pioneered a method of determining upcoming support and resistance levels of any market on any scale.

Red: today's levels.
Orange: this week's levels.
Yellow: August's levels.

Clusters of levels from different time frames are the strongest areas of support or resistance. Jeffrey Kennedy's idea is to be used in conjunction with traditional Elliott wave analysis and technical indicators to help determine at which levels prices will stop. For example waning momentum was present on 8/7/09 and the market found resistance at the upper 100% August level.

I would recommend you subscribe to Elliott Wave International services because they do have great information that you cannot find on the web. Please use the links on the right side of my page to do so.

blog comments powered by Disqus