Browse By

MCX Major Commodities Support and Resistance Levels or 21st Feb 2014

Make My Trade | India (www.makemytrade.in)

  • 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 21st Feb 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Apr-14 29694 29788 29884 29978 30074
Silver Mar-14 46917 47201 47436 47720 47955
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Feb-14 106.40 107.05 107.50 108.15 108.60
Copper Feb-14 446.32 448.03 449.52 451.23 452.72
Nickel Feb-14 883.43 887.17 893.83 897.57 904.23
Lead Feb-14 131.37 131.83 132.57 133.03 133.77
Zinc Feb-14 125.97 126.73 127.42 128.18 128.87
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Mar-14 6368 6391 6414 6437 6460
Natural Gas Feb-14 353.20 369.70 382.60 399.10 412.00