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MCX Major Commodities Support and Resistance Levels or 30th Jan 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 30th Jan 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Feb-14 29147 29443 29641 29937 30135
Silver Mar-14 43211 43808 44441 45038 45671
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jan-14 106.02 106.58 107.17 107.73 108.32
Copper Feb-14 447.42 450.13 452.17 454.88 456.92
Nickel Jan-14 867.13 871.87 880.23 884.97 893.33
Lead Jan-14 131.88 133.32 134.23 135.67 136.58
Zinc Jan-14 123.12 124.03 124.72 125.63 126.32
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jan-14 6021 6076 6112 6167 6203
Natural Gas Feb-14 296.77 308.93 315.67 327.83 334.57