Support Only Known After The Fact

In technical analysis, prior levels of resistance or key moving averages tend to act as support in an uptrend. True support is only know after the fact. Once has tested a level , it finds support and then continues higher we can say that it held and then purchase the renewed upward momentum with a stop just below the more recent and relevant higher low on the time frame you engage the market.

tltDay

The intraday chart of $TLT below shows no evidence that buyers were gaining control at the technical levels on the daily timeframe above.
TLTintra