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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.
Support and Resistance for 10th July 2014
| MCX Bullion Support and Resistance |
| Commmodity |
Sup2 |
Sup1 |
Pivot |
Res1 |
Res2 |
| Gold Aug-14 |
27330 |
27418 |
27470 |
27558 |
27610 |
| Silver Sep-14 |
44403 |
44604 |
44777 |
44978 |
45151 |
|
|
| MCX Metal Support and Resistance |
| Commmodity |
Sup2 |
Sup1 |
Pivot |
Res1 |
Res2 |
| Aluminium Jul-14 |
112.80 |
113.50 |
114.25 |
114.95 |
115.70 |
| Copper Aug-14 |
429.85 |
432.60 |
434.10 |
436.85 |
438.35 |
| Nickel Jul-14 |
1135 |
1147 |
1156 |
1167 |
1176 |
| Lead Jul-14 |
128.43 |
129.52 |
130.43 |
131.52 |
132.43 |
| Zinc Jul-14 |
131.45 |
133.30 |
134.35 |
136.20 |
137.25 |
|
|
| MCX Energy Support and Resistance |
| Commmodity |
Sup2 |
Sup1 |
Pivot |
Res1 |
Res2 |
| Crude Oil Jul-14 |
6165 |
6192 |
6223 |
6250 |
6281 |
| Natural Gas Jul-14 |
247.13 |
250.37 |
256.03 |
259.27 |
264.93 |
|
|
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