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MCX Major Commodities Support and Resistance Levels or 18th Nov 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 18th Nov 2013

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Dec-13 30165 30254 30325 30414 30485
Silver Dec-13 46480 46593 46769 46882 47058
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Nov-13 109.90 110.20 110.55 110.85 111.20
Copper Nov-13 437.20 439.15 440.65 442.60 444.10
Nickel Nov-13 858.30 863.00 866.40 871.10 874.50
Lead Nov-13 129.97 130.48 131.12 131.63 132.27
Zinc Nov-13 116.87 117.33 117.67 118.13 118.47
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Nov-13 5860 5882 5915 5937 5970
Natural Gas Nov-13 225.00 227.30 228.60 230.90 232.20