Description
Key Features
A key concept of technical analysis is that when a resistance or support level is broken, its role is reversed. If the price falls below a support level, that level will become resistant. If the price rises above a resistance level, it will often become support.
Horizontal support and resistance levels are the most basic type of these levels. They’re simply identified by a horizontal line :
- Green Level in the chart, is Resistance Level.
- Red Level in the chart, is a Support Level.
Our Support and resistance are used to identify key levels where the trend in price has a greater probability of halting and possibly changing direction. It can be a specific price or price area. Interpretation of the degree of significance of a level depends on a trader’s time frame.
