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MCX Major Commodities Support and Resistance Levels for 4th 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.

 

Support and Resistance for 4th July 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Aug-14 27216 27340 27487 27611 27758
Silver Jul-14 43859 44075 44337 44553 44815
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jul-14 113.13 113.77 114.43 115.07 115.73
Copper Aug-14 430.00 432.30 433.80 436.10 437.60
Nickel Jul-14 1165.47 1173.63 1183.67 1191.83 1201.87
Lead Jul-14 128.05 129.10 130.85 131.90 133.65
Zinc Jul-14 131.63 132.57 133.98 134.92 136.33
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jul-14 6162 6186 6215 6239 6268
Natural Gas Jul-14 256.73 259.17 261.53 263.97 266.33