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MCX Major Commodities Support and Resistance Levels or 06th 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 6th Dec 2013

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Dec-13 28937 29630 30293 30986 31649
Silver Dec-13 42088 42524 43137 43573 44186
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Nov-13 105.55 106.25 107.55 108.25 109.55
Copper Dec-13 443.77 445.43 447.72 449.38 451.67
Nickel Nov-13 831.83 840.67 851.63 860.47 871.73
Lead Nov-13 126.83 127.42 128.43 129.02 130.03
Zinc Nov-13 115.17 115.58 116.32 116.73 117.47
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Nov-13 5983 6008 6032 6057 6081
Natural Gas Dec-13 240.70 247.60 251.40 258.30 262.10