What does support & resistance mean in a market? I’m confused on this
Support is an approximate price level which a falling price reaches and then stops falling on more than one separate occasion. The theory is that having fallen to this level more than once in the past, price will in the future fall to only the same approximate level and again stop falling.
Resistance is the same, just the reversed to take into account rising prices. So its a level to which price is expected to stop rising, as it has stopped rising here in the past.
A further common belief is that if price has found support several times and then falls through the support level, when it starts rising, that support level could become a resistance level: so when price rises to what used to be its support level when it was higher, it will stop rising at the same price - broken support becoming resistance.
Reverse this for broken resistance becoming support.
Support and resistance levels are levels where price did a pause in trading. If after the pause it went lower, that is a resistance and if it went higher, that level is support. Generally traders buy at support and sell at resistance.
Some of the regions you can use to get support and resistance are at swing highs and swing lows, Fibonacci retracement levels, trendlines, gaps in trading and round numbers which are called psychological levels.