Support level and resistance level are important parts of technical analysis and can be used to determine trends and trading decisions.
They can help determine the direction of price movements and identify trends, which are necessary for technical analysis of traders.
Support level is a line connecting the lowest values in turn. According to different trends, the support level can be diagonal or horizontal.
In the rising trend, the trend line connecting the lowest value is a positive slope (low left and high right).
When the trend is sideways, the support level is horizontal
The resistance level is the line connecting the maximum value. Depending on the trend, the resistance level can be diagonal or horizontal.
In the downward trend, the trend line connecting the maximum value is negative slope (high left and low right).
When sideways, the resistance line is horizontal.