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MCX Energy Support & Resistance for 16th January 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.t

MCX Crude Oil and MCX Natural gas Support and Resistance Levels for 16th January, 2013;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Crude Oil MCX Jan-13

5085

5108

5128

5151

5171

Natural Gas MCX Dec-2012

179.70

184.30

186.80

191.40

193.90