Cipla

trendlines and multiple-point resistance, which is a solid way to gauge key levels in technical analysis. Let’s break it down for clarity: 🔺 What is a Trendline with Multiple-Point Resistance? A resistance trendline is a downward-sloping line that connects multiple swing highs on a price chart. When price touches this trendline multiple times but fails to break above it, it confirms the trendline as a strong resistance level. 🧠 Key Concepts: Trendline: A straight line drawn over two or more peaks (highs) that shows the general direction of resistance. Multiple Touchpoints (3 or more): The more times price respects the trendline without breaking it, the stronger that resistance becomes. Confluence Zones: If the trendline aligns with other indicators (Fibonacci, moving average, previous horizontal resistance), that resistance becomes even more significant.