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

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Jun-14 26605 26710 26840 26945 27075
Silver Jul-14 39682 39955 40272 40454 41862
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium May-14 105.08 105.82 106.23 106.97 107.38
Copper Jun-14 412.73 413.97 415.78 417.02 418.83
Nickel May-14 1107 1121 1145 1158 1182
Lead May-14 122.75 123.60 124.65 125.50 126.55
Zinc May-14 120.93 121.67 122.73 123.47 123.53
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jun-14 6052 6081 6130 6159 6208
Natural Gas May-14 262.53 267.53 270.13 274.97 277.73