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.


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