Browse By

MCX Major Commodities Support and Resistance Levels or 4th Mar 2014

Make My Trade | India (www.makemytrade.in)

  • 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 4th Mar 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Apr-14 30026 30329 30494 30797 30962
Silver Mar-14 45955 46570 46978 47593 48001
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Mar-14 104.30 105.05 106.05 106.80 107.80
Copper Apr-14 435.48 437.62 438.93 441.07 442.38
Nickel Mar-14 898.20 907.20 912.10 921.10 926.00
Lead Mar-14 129.53 130.42 130.98 131.87 132.43
Zinc Mar-14 126.87 128.23 128.97 130.33 131.07
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Mar-14 6319 6414 6481 6576 6643
Natural Gas Mar-14 274.97 279.57 287.23 291.87 299.53