Support is a price where buying has tended to stop a fall; resistance is where selling has tended to stop a rise.
Classic pivot points
The pivot P = (high + low + close) ÷ 3 of the last session. Then R1 = 2P − low, S1 = 2P − high, R2 = P + (high − low), S2 = P − (high − low), and R3/S3 one range further out.
- Price above P is often treated as a bullish day; below P bearish.
- Intraday traders use R1/S1 as first targets or reversal zones.
Levels are areas, not exact prices: allow a little room either side.