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MCX Major Commodities Support and Resistance Levels or 27th 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 27th Dec 2013

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Feb-14 28334 28455 28576 28697 28818
Silver Mar-14 43504 44140 44619 45255 45734
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Dec-13 103.87 105.18 106.72 108.03 109.57
Copper Feb-14 465.20 467.60 469.10 471.50 473.00
Nickel Dec-13 869.97 874.63 879.27 883.93 888.57
Lead Dec-13 133.50 136.60 140.30 143.40 147.10
Zinc Dec-13 125.83 128.32 130.98 133.47 136.13
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jan-14 6163 6181 6192 6210 6221
Natural Gas Dec-13 268.93 272.17 274.43 277.67 279.93