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MCX Major Commodities Support and Resistance Levels for 23rd 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 23rd June 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Aug-14 27300 27484 27652 27836 28004
Silver Jul-14 43605 44087 44464 44946 45322
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jun-14 110.17 110.88 111.77 112.48 113.37
Copper Jun-14 407.42 411.43 413.92 417.93 420.42
Nickel Jun-14 1078.63 1091.57 1110.23 1123.17 1141.83
Lead Jun-14 128.92 129.73 130.37 131.18 131.82
Zinc Jun-14 125.63 126.42 127.38 128.17 129.13
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jul-14 6369 6414 6441 6486 6513
Natural Gas Jun-14 268.73 270.97 274.43 276.67 280.13