MCX Major Commodities Support and Resistance for 19th March 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 Bullion
Gold MCX April-13
Silver MCX May-13
- MCX Energy
Crude Oil MCX Mar-13
Natural Gas MCX Mar-13