Support and Resistance are key concepts in technical analysis that represent areas on a price chart where the price tends to find support or encounter resistance:

* Support Zone : A level where the price tends to stop falling and can reverse or consolidate, indicating a demand area.
* Resistance Zone : A level where the price tends to stop rising and may reverse or consolidate, indicating a supply area.

These zones form based on historical price action and are crucial for predicting potential price movements.

How Traders Use It:
* Entry Point : Traders buy near the Support Zone and sell near the Resistance Zone.
* Breakout : A breakout above the Resistance Zone indicates a potential upward trend, while a breakdown below the Support Zone indicates a potential downward trend.
* Stop-Loss : Place a stop-loss just below the Support Zone when buying and just above the Resistance Zone when selling.

Support and resistance zones are essential for traders to identify price ranges and make informed decisions about entries and exits.