Basics Of DOW Theory for new bies

According to Dow an uptrend is consistently rising peaks and troughs. And a downtrend is consistently rising lowering peaks and troughs. Here the line chart is used to mark the high tops & bottoms .The minimum look up period one to two years.

support and resistance are certain predetermined levels of the price of a security at which it is thought that the price will tend to stop and reverse. These levels are denoted by multiple touches of price without a breakthrough of the level.