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MCX Major Commodities Support and Resistance Levels for 1st August 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.

 

MCX Bullion Support and Resistance Levels for August 1 2014

Commodities Sup 2 Sup 1 Pivot Res 1 Res 2
Gold Oct’14 27721 27813 27946 28038 28171
Silver Sep’14 43967 44190 44495 44718 45023

MCX Metals Support and Resistance Levels for August 1 2014

Commodities Sup 2 Sup 1 Pivot Res 1 Res 2
Copper Aug’14 428.95 432.40 435.05 438.50 441.15
Nickel Aug’14 1106 1117 1136 1147 1165
Lead Aug’14 133.65 134.40 135.55 136.30 137.45
Zinc Aug’14 141.70 142.90 143.75 144.95 145.80
Aluminium Aug’14 119.83 120.57 121.98 122.72 124.13

MCX Energy Support and Resisstance Levels for August 1 2014

Commodities Sup 2 Sup 1 Pivot Res 1 Res 2
Crude Oil Aug’14 5941 5976 6030 6065 6119
Natural Gas Aug’14 225.80 231.40 234.70 240.30 243.60