Mortgage Interest Rates - Fork In The Road

Ceiling of resistance and floor of support are terms commonly used in technical analysis to describe price levels in financial markets that exhibit high levels of buying or selling pressure. A ceiling of resistance is a price level at which a stock or other financial instrument has had difficulty moving above in the past. It is a level where there is significant selling pressure that prevents the price from going higher. Each time the price approaches this level, it tends to get rejected, and the price moves back down. If the price manages to break through this level, it can be a signal of a bullish trend as more buyers come into the market. On the other hand, a floor of support is a price level at which a stock or other financial instrument has had difficulty moving below in the past. It is a level where there is significant buying pressure that prevents the price from going lower. Each time the price approaches this level, it tends to get supported, and the price moves back up.

If the price manages to break through this level, it can be a signal of a bearish trend as more sellers come into the market. It's important to note that these levels are not fixed and can change over time as market conditions and sentiment evolve. Technical analysts use various tools and techniques, such as trendlines and moving averages, to identify these levels and track their movements over time. However there is a decent probability that we may see a reversal, as it would definitely be a welcome sigh of relief.