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MCX Major Commodities Support and Resistance Levels for 24th 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 24 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Gold 27910 27967 28053 27824 27767
Silver 44991 45103 45279 44815 44703

MCX Metals Support and Resistance Levels for July 24 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Aluminium 120.70 121.60 123.30 119.00 118.10
Copper 427.53 429.07 430.98 425.62 424.08
Nickel 1138.50 1144.50 1152.00 1131.00 1125.00
Lead 131.73 132.67 133.98 130.42 129.48
Zinc 141.82 142.58 143.62 140.78 140.02

MCX Energy Support and Resisstance Levels for July 24 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Crude 6187 6227 6254 6160 6120
Natural Gas 227.43 228.67 230.63 225.47 224.23