Trendline

On the 1 hour chart, we can see that we now have a good resistance zone around the broken trendline where we can find the with the downward trendline, the red 21 moving average and the 38.2% Fibonacci retracement level.

On the 4 hour chart, we can see that if we get a bounce on the trendline, there will be a strong resistance around the 4460 level as we have the of the trendline, the previous swing low level and the Fibonacci retracement levels.

The buyers might keep on leaning on this trendline to position for new highs but if we get a break to the downside, the sellers will likely pile in to target a pullback into the major trendline.

We can see that the price retested the bottom trendline and continued lower as the sellers piled in with a defined risk above the trendline.

A move above the trendline could also result in Vedanta’s stock confirming an inverted head and shoulder.

And so, yes, things are coming down but they're coming down to what is more of a trendline.

Bearish traders want to see big bearish volume come in and drop Crocs down below the lower range of the gap, which could drop the stock back under the descending trendline.

Before revisiting the topside trendline, The NZD/USD is a commonly offered currency pair representing the New Zealand dollar or Kiwi and US dollar.

For now, they simply need to defend the trendline and lower highs.

However, the low price stalled near the upward sloping trendline connecting the January 18 low, to the low price last Thursday.

If the price breaks above the minor downward trendline, the buyers should increase their bullish bets into new highs.

If the price breaks above the trendline and the previous swing low at 1942, the bounce should be confirmed and the buyers would be in control to take the price towards the 1984 resistance.

In fact, as previously mentioned, the only levels to watch should be the trendline and the support.

In fact, the price pulled back to the trendline, but after a breakout it continued to rally hinting to a possible reversal in the trend.

In this case, we got a pullback into the resistance, but the break above the trendline is making things less clear.

Note in the chart above what doesn’t go crashing to earth in the wake of the banking problems: the Fed funds rate (crimson trendline).

Rural Funds Group is again testing the trendline.

The price is now struggling at the trendline, but the buyers may find enough conviction to keep charging towards the 1800 resistance.

The sellers, on the other hand, will want to see a break below the trendline to pile in and target the lows.

The sellers, on the other hand, will want to see the price breaking below the trendline to get an extra confirmation for a move lower.