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MCX Major Commodities Support and Resistance Levels or 7th Mar 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 7th Mar 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Apr-14 29780 29994 30115 30329 30450
Silver Mar-14 46073 46633 46997 47557 47921
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Mar-14 105.63 106.67 107.38 108.42 109.13
Copper Apr-14 433.73 435.17 437.03 438.47 440.33
Nickel Mar-14 916.87 931.93 942.17 957.23 967.47
Lead Mar-14 128.05 129.00 129.85 130.80 131.65
Zinc Mar-14 127.57 128.18 129.17 129.78 130.77
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Mar-14 6011 6064 6164 6217 6317
Natural Gas Mar-14 271.80 277.20 282.10 287.50 292.40