A pivot point and its support/resistance levels are areas at which the direction of price movement can possibly change. Pivot points are especially useful to short-term traders who are looking to take advantage of small price movements.
Pivot points can be used by both range-bound traders and breakout traders. Range-bound traders use pivot points to identify reversal points. Breakout traders use pivot points to recognize key levels that need to be broken for a move to be classified as a real deal breakout.
PP is the pivot point.
You see 3 lines of resistance, R1, R2, and R3.
You see 3 lines of support, S1, S2, and S3.
There is an indicator that will also draw the mid pivot points between these lines. They can also be useful at times.