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MCX Major Commodities Support and Resistance Levels or 12th Feb 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 12th Feb 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Apr-14 28892 28998 29086 29192 29280
Silver Mar-14 44168 44434 44677 44943 45186
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Feb-14 102.93 103.77 104.53 105.37 106.13
Copper Feb-14 439.47 440.68 442.47 443.68 445.47
Nickel Feb-14 868.80 874.10 880.40 885.70 892.00
Lead Feb-14 129.10 130.00 130.70 131.60 132.30
Zinc Feb-14 123.25 123.95 124.95 125.65 126.65
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Feb-14 6174 6195 6228 6249 6282
Natural Gas Feb-14 280.83 288.37 293.13 300.67 305.43