Support and Resistance part 2

In technical analysis, support and resistance refer to price levels on a chart where the market's movement is expected to pause or reverse due to the forces of supply and demand. Support is a price level where the price has historically stopped falling, indicating that buyers are plentiful at that price point, and that the market is likely to bounce back upwards. Resistance, on the other hand, is a price level where the price has historically stopped rising, suggesting that sellers are abundant and the market is likely to fall back down.