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Bullish Support

A bullish support line is drawn under rising reaction lows. A popular application of bullish support lines involves connecting two successively higher lows to form a test. A third low that falls upon the line confirms the support line. Subsequent penetration of an established support line is commonly thought to signal a change to a down trend.

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see, John J. Murphy, Technical Analysis of the Futures Markets, A Comprehensive Guide to Trading Methods and Applications, New York: New York Institute of Finance, A Prentice-Hall Company, 1986, p. 68.