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MCX Major Commodities Support and Resistance Levels or 03rd Dec 2013

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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 3rd Dec 2013

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Dec-13 29881 29969 30101 30189 30321
Silver Dec-13 42085 42549 43319 43783 44553
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Nov-13 106.25 106.85 107.50 108.10 108.75
Copper Dec-13 440.93 443.27 447.33 449.67 453.73
Nickel Nov-13 827.40 836.60 842.70 851.90 858.00
Lead Nov-13 126.88 127.72 128.68 129.52 130.48
Zinc Nov-13 114.83 115.57 116.33 117.07 117.83
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Nov-13 5747 5800 5836 5889 5925
Natural Gas Dec-13 242.73 244.97 246.33 248.57 249.93