Date: April 11, 2017
>Overall Trend
The first step is to identify the overall trend. This can be accomplished with trend lines, moving averages or peak/trough analysis. As long as the price remains above its uptrend line, selected moving averages or previous lows, the trend will be considered bullish.
Support
Areas of congestion or previous lows below the current price mark support levels. A break below support would be considered bearish.
Resistance
Areas of congestion and previous highs above the current price mark the resistance levels. A break above resistance would be considered bullish.
Momentum
Momentum is usually measured with an oscillator such as MACD. If MACD is above its 9-day EMA (exponential moving average ) or positive, then momentum will be considered bullish, or at least improving.
Technical Indicator
An indicator is a series of data points that are derived by applying a formula to the price data of a security. An indicator offers a different perspective from which to analyze the price action. There basically Leading and Lagging Indicators, together with volume and trading bands.
