MCX Important Trading Levels for 11th August 2014
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Support and Resistance
- 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.
- Support is the level where a stock get buying interest before it can fall further.
- Under the normal market conditions or in the absence 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 stock at support levels and sell at resistance levels.
- In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.
MCX Commodities Support and Resistance Levels
Date: Aug 11, 2014
|Commodity Future||Sup 2||Sup 1||Pivot||Res 1||Res 2|
|Crude Oil Aug’14||5896||5935||6000||6039||6104|
|Natural Gas Aug’14||236.63||239.97||241.83||245.17||247.03|