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MCX Major Commodities Support and Resistance levels for 16th Nov 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
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Dec-13 30161 30246 30321 30406 30481
Silver Dec-13 46491 46616 46780 46905 47069
  • MCX Metals
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Nov-13 109.92 110.23 110.57 110.88 111.22
Copper Nov-13 437.18 439.12 440.63 442.57 444.08
Nickel Nov-13 858.50 863.40 866.60 871.50 874.40
Lead Nov-13 129.95 130.50 131.15 131.70 132.35
Zinc Nov-13 116.85 117.30 117.65 118.10 118.45
  • MCX Energy
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Nov-13 5860 5881 5915 5936 5970
Natural Gas Nov-13 224.97 227.23 228.57 230.83 232.17