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MCX Major Commodities Support and Resistance Levels or 8th 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 8th May 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Jun-14 28156 28338 28687 28869 29218
Silver Jul-14 41223 41576 42222 42575 43221
MCX Metal Support and Resistance

Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium May-14 103.07 103.73 104.97 105.63 106.87
Copper Jun-14 400.88 403.12 406.63 408.87 412.38
Nickel May-14 1110.07 1115.83 1120.27 1126.03 1130.47
Lead May-14 122.58 123.57 125.28 126.27 127.98
Zinc May-14 120.47 121.23 122.57 123.33 124.67
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil May-14 5971 6002 6031 6062 6091
Natural Gas May-14 278.40 281.10 285.80 288.50 293.20