The recent world stock market crash led by the subprime lending rates crisis had many people baffled, but the technical analyst who had been monitoring the charts saw the early warning and got out.
The market had changed from the trending market to trading market and when the support level of the trading market was broken there was the beginning of a downtrend. Again the Support and Resistance Levels come into play from the longer term perspectives- the time frame of trading as discussed earlier whether it is intraday, day trading or weekly trading comes into play. So keep these in mind while trading and - Happy trading!
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