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Similar to trendlines, channels can also be used to identify support and resistance levels. A channel provides both support and resistance for the price by its lower channel line and upper channel line, respectively. The following chart shows a support and resistance chart based on a rising channel.
https://www.investopedia.com/trading/support-and-resistance-basics/
Technical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause, or reversal, of a prevailing trend.
https://www.swing-trade-stocks.com/support-and-resistance.html
Support and resistance identify areas of supply and demand. But what exactly is supply and demand? Supply is an area on a chart where sellers are likely going …
https://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2014/03/08/3_Simple_Ways_to_Indentify_Support_and_Resistance_in_Forex.html
Support and Resistance Talking Points: Support and Resistance can help guide traders with entries and exits. New traders often make it more difficult than it really is to identify these levels.
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