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MCX Major Commodities Support and Resistance Levels or 18th Mar 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 18th Mar 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Apr-14 30310 30452 30595 30737 30880
Silver Mar-14 46074 46579 47228 47733 48382
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Mar-14 103.87 104.48 105.07 105.68 106.27
Copper Apr-14 397.60 400.55 402.75 405.70 407.90
Nickel Mar-14 954.73 960.67 969.63 975.57 984.53
Lead Mar-14 122.90 123.95 124.55 125.60 126.20
Zinc Mar-14 119.87 120.68 121.32 122.13 122.77
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Mar-14 5974 6012 6049 6087 6124
Natural Gas Mar-14 264.30 268.30 270.60 274.60 276.90