Support is a level or area on a chart under the market where buying interest overcomes selling pressure. Resistance is the opposite of support: that is, a price level or area over the market where selling pressure overcomes buying pressure. see, John J. Murphy, Technical Analysis of the Futures Markets, A Comprehensive Guide to Trading Methods and Applications, New York: New York Institute of Finance, A Prentice-Hall Company, 1986, p. 59. see, John J. Murphy, Technical Analysis of the Futures Markets, A Comprehensive Guide to Trading Methods and Applications, New York: New York Institute of Finance, A Prentice-Hall Company, 1986, p. 59.Horizontal Support and Resistance
