What are support and resistance levels?
Support and resistance levels are key concepts in technical analysis used to predict the price movement of securities. Here’s a breakdown of each: Support Level: Definition: A support level is a price point where a stock or other asset tends to stop falling and may even start to rise. It represents a level where buying interest is strong enough to overcome selling pressure. Function: At support levels, demand is usually high enough to prevent the price from falling further. Traders …