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MCX Major Commodities Support and Resistance Levels for 1st July 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 1st July 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Aug-14 27440 27608 27729 27897 28018
Silver Jul-14 43621 43867 44169 44415 44717
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jul-14 109.97 110.58 110.97 111.58 111.97
Copper Jul-14 414.82 418.58 420.87 424.63 426.92
Nickel Jul-14 1114.83 1119.57 1125.73 1130.47 1136.63
Lead Jul-14 127.32 127.63 128.17 128.48 129.02
Zinc Jul-14 131.15 131.80 132.15 132.80 133.15
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jul-14 6281 6309 6342 6370 6403
Natural Gas Jul-14 261.77 265.83 268.57 272.63 275.37