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MCX Major Commodities Support and Resistance Levels or 23rd Dec 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 23rd Dec 2013

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Dec-13 28120 28337 28493 28710 28866
Silver Dec-13 43227 43617 43956 44346 44685
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Dec-13 107.47 107.98 108.82 109.33 110.17
Copper Dec-13 455.90 457.30 459.75 461.15 463.60
Nickel Dec-13 880.70 887.20 891.00 897.50 901.30
Lead Dec-13 134.18 135.22 135.83 136.87 137.48
Zinc Dec-13 122.90 124.45 125.45 127.10 128.00
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Dec-13 6124 6158 6188 6222 6252
Natural Gas Dec-13 271.30 273.70 276.50 278.90 281.70