He is a Chartered Market Technician (CMT). Line of best fit refers to a line through a scatter plot of data points that best expresses the relationship between those points. Statisticians ...

The 'line of best fit' is a line that goes roughly through the middle of all the scatter points on a graph. The closer the points are to the line of best fit the stronger the correlation is.

Image caption, Plot each ... The scatter graph shows the relationship between the temperature on a given day and the number of ice creams sold in a café. A line of best fit has been drawn.