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MCX Major Commodities Support and Resistance Levels or 16th Jan 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 16th Jan 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Feb-14 28777 28898 28986 29107 29195
Silver Mar-14 44088 44436 44663 45011 45238
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jan-14 105.10 106.45 107.40 108.75 109.70
Copper Feb-14 449.52 454.68 457.47 462.63 465.42
Nickel Jan-14 863.47 878.33 888.17 903.03 912.87
Lead Jan-14 130.55 133.15 134.75 137.35 138.95
Zinc Jan-14 125.18 126.87 127.88 129.57 130.58
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jan-14 5639 5731 5780 5872 5921
Natural Gas Jan-14 265.23 267.87 270.43 273.07 275.67