Support and resistance are proven areas where buyers and sellers find some of equilibrium, they are major turning points in the market.Support and resistance levels emerge when the price reverses its direction. These key levels often act as barriers, containing price movements within their range. However, when a breakout occurs, the price can move beyond these levels, leading to potential new trends. In trending markets, support and resistance levels are established at swing points. During an uptrend, the previous swing point serves as a support level, while in a downtrend, the previous swing point functions as a resistance level. The illustration above demonstrates how the previous swing point becomes a…