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MCX Major Commodities Support and Resistance Levels for 23rd 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.

 

MCX Bullion Support and Resistance Levels for July 23 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Gold 27927 28042 28202 27767 27652
Silver 45044 45353 45610 44787 44478

MCX Metals Support and Resistance Levels for July 23 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Aluminium 122.03 122.92 123.68 121.27 120.38
Copper 429.75 431.50 434.35 426.90 425.15
Nickel 1145.23 1156.07 1165.63 1135.67 1124.83
Lead 132.87 133.83 134.82 131.88 130.92
Zinc 140.05 142.50 143.80 138.75 136.30

MCX Energy Support and Resisstance Levels for July 23 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Crude 6234 6291 6329 6196 6139
Natural Gas 232.70 234.40 236.80 230.30 228.60