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MCX Major Commodities Support and Resistance Levels for 28th 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 28 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Gold Aug-14 27851 28052 28165 27738 27537
Silver Sep-14 44164 44454 44626 43992 43702

MCX Metals Support and Resistance Levels for July 28 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Aluminium Jul-14 120.27 121.23 122.87 119 117.67
Copper Aug-14 433.42 435.38 438.82 430 428.02
Nickel Jul-14 1151.07 1159.33 1170.07 1140 1132.07
Lead Jul-14 135.47 136.73 137.52 135 133.42
Zinc Jul-14 144.25 145.00 145.95 143 142.55

MCX Energy Support and Resisstance Levels for July 28 2014

Commodities Pivot Res 1 Res 2 Sup 1 Sup 2
Crude Oil Aug-14 6137 6188 6226 6099 6048
Natural Gas Jul-14 228.57 230.93 234.77 225 222.37