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MCX Major Commodities Support and Resistance Levels or 29th Apr 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 29th Apr 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Jun-14 28810 28890 28955 29035 29100
Silver May-14 42060 42264 42505 42709 42950
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Apr-14 107.00 107.90 109.60 110.50 112.20
Copper Apr-14 412.00 413.95 417.45 419.40 422.90
Nickel Apr-14 1073.67 1086.13 1109.57 1122.03 1145.47
Lead Apr-14 124.92 125.98 127.87 128.93 130.82
Zinc Apr-14 123.25 124.00 124.80 125.55 126.35
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil May-14 6080 6108 6142 6170 6204
Natural Gas May-14 280.57 286.33 289.37 295.13 298.17