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MCX Major Commodities Support and Resistance Levels for 8th 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 8th July 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Aug-14 27330 27418 27470 27558 27610
Silver Sep-14 44403 44604 44777 44978 45151
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jul-14 112.80 113.50 114.25 114.95 115.70
Copper Aug-14 429.85 432.60 434.10 436.85 438.35
Nickel Jul-14 1135 1147 1156 1167 1176
Lead Jul-14 128.43 129.52 130.43 131.52 132.43
Zinc Jul-14 131.45 133.30 134.35 136.20 137.25
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jul-14 6165 6192 6223 6250 6281
Natural Gas Jul-14 247.13 250.37 256.03 259.27 264.93