MCX Energy Support and Resistance for 14th February’ 2013
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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.
MCX Energy Support and Resistance for 14th February’ 2013
Commodity |
Support 2 |
Support 1 |
Pivot |
Resistance 1 |
Resistance 2 |
|
|
|
|
|
|
Crude Oil MCX Feb-13 |
5208 |
5230 |
5251 |
5273 |
5294 |
Natural Gas MCX Feb-13 |
172.73 |
175.87 |
177.63 |
180.77 |
182.53 |