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MCX Major Commodities Support and Resistance Levels for 4th August 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 August 4 2014

Commodities Sup 2 Sup 1 Pivot Res 1 Res 2
Gold Aug’14 27667 27860 27992 28185 28317
Silver Sep’14 44054 44241 44495 44682 44936

MCX Metals Support and Resistance Levels for August 4 2014

Commodities Sup 2 Sup 1 Pivot Res 1 Res 2
Copper Aug’14 431.22 433 436.32 438.33 441.42
Nickel Aug’14 1110.63 1119 1129.13 1137.17 1147.63
Lead Aug’14 133.63 135 135.68 136.97 137.73
Zinc Aug’14 141.60 142 143.45 144.25 145.30
Aluminium Aug’14 119.70 120 121.35 122.10 123

MCX Energy Support and Resisstance Levels for August 4 2014

Commodities Sup 2 Sup 1 Pivot Res 1 Res 2
Crude Oil Aug’14 5906 5940 5972 6006 6038
Natural Gas Aug’14 228.97 231 234.47 236.93 239.97