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MCX Major Commodities Support and Resistance Levels for 16th June 2014

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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 16th June 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Aug-14 26197 26412 26536 26751 26875
Silver Jul-14 41098 41487 41693 42082 42288
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jun-14 107.15 107.90 108.40 109.15 109.65
Copper Jun-14 394.15 397.50 399.85 403.20 405.55
Nickel Jun-14 1046.87 1063.63 1076.37 1093.13 1105.87
Lead Jun-14 121.55 122.80 123.50 124.75 125.45
Zinc Jun-14 122.33 123.32 123.88 124.87 125.43
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jun-14 6257 6328 6371 6442 6485
Natural Gas Jun-14 279.90 282.30 284.60 287.00 289.30