Price is either headed towards something or away from something.  It can be a line or a level, a moving average; doesn’t really matter much.  What it does do is add some perspective and the proximity of price to it allows you to exercise judgement and draw a conclusion.

Always a level of interest and particulary as we head toward the end game is the yearly opening price range.

A magnet in some instances and repellent in others.

 

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