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MCX Bullion Support and Resistance Levels for 7th Jan’13

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  • Trading as per support and resistance levels may be quite useful for intraday trading in commodities.
  • Resistance is termed as the level where the commodity generally gets some opposite force before it can go further up.
  •  A support is the level where a Commodity get buying interest before it can fall further.
  • Under the normal market conditions or in the absense of some extremely panic news the support and the resistance levels can act as good levels for initiating the buying/selling.
  • In general, it is advisable to buy the commodities at support levels and sell at the resistance levels.
  • In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.t

MCX Gold and MCX Silver Support and Resistance Levels for 07th January, 2013;

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
MCX Gold Dec-12 30770 30839 30889 30958 31008
MCX Silver Dec-12 57450 57718 57969 58237 58488