Technical trade levels: SA major markets - 15 September 2020
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Published on 2020-09-15
Support (S) and resistance (R) are key concepts that help traders understand, analyse and act on chart patterns in the financial markets. Support describes a price level where a downtrend pauses due to demand for an asset increasing, while resistance refers to a level where an uptrend reverses as a sell-off happens.
Pivot points are calculated based on the high, low, and closing prices of previous trading sessions, and they're used to predict support and resistance levels in the current or upcoming session. These support and resistance levels can be used by traders to determine entry and exit points, both for stop-losses and profit taking.