What is a Support Level?
Support is a level where the price tends to stop or reverse.
What is a Resistance Level?
Resistance is a level where the price faces selling pressure.
How to Identify Support and Resistance
Reviewing previous highs and lows
Using indicators
Analyzing trading volume
Why Are These Levels Important?
Finding entry points
Setting stop-loss orders
Detecting trend breakouts
Summary
Support and resistance are among the most important tools for market analysis.