There is a free site that will help you develop your support and resistance levels.

When calculating pivot points, the pivot point itself is the primary support/resistance level. This means that the largest price movement is expected to occur at this price. The other support and resistance levels are less influential, but may still generate significant price movements.

Pivot points can be used in two ways.

• The first way is for determining the overall market trend. If the pivot point price is broken in an upward movement, then the market will be bullish and vice versa. Keep in mind, however, that pivot points are short-term trend indicators, useful for only one day, then you need to be recalculate for the next trading session.