Support And Resistance
Determine market trends using Support and Resistance levels, which are known for their ability to limit the price movements of financial assets.
Sorry! No data found.
Identifying the resistance and support levels using turning points, also known as Pivot Points, is one of the most widely used methods in technical analysis. Pivot Points are used by institutional and retail traders alike, and in turn are the starting points when defining market sentiment as bullish or bearish.
Resistance and support levels are known for their ability to limit the price movements of financial assets. The technical indicators most often used for determining the resistance/support levels are: prior tops/bottoms, trend lines and trend channels, Moving Averages and Fibonacci Retracements.
The Pivot Point is calculated as an average of the high, low and closing prices of a certain asset for the prior trading period. Pivot points serve as resistance or support levels depending on whether the current price is below or above the pivot point.