Support and
resistance is THE most popular and used technical analysis concept. It’s based
on the fact that price tends to react to certain levels and those same levels
can be traded as the price gets rejected.

So, if traders expect a level to hold,
they will trade

This relates to the likely imminent announcement from earlier here.The matter is still being discussed as the details are yet to be sorted out but it will be the first foray by the EU into sanctioning Russian energy, although it doesn’t touch on oil and gas just yet – which are the more important on