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MCX Metals Support & Resistance for 24th December 2012

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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.t

MCX Alluminium, , MCX Nickel, MCX Lead and MCX Zinc December-12 &   MCX Copper (February-13), Support and Resistance Levels  for 24th December 2012;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Dec-12

112.98

113.12

113.23

113.37

113.48

Copper MCX Feb-13

436.88

437.27

438.03

438.42

439.18

Nickel MCX Dec-12

956.60

958.20

959.00

960.60

961.40

Lead MCX Dec-12

124.70

125.45

125.95

126.70

127.20

Zinc MCX Dec-12

112.60

112.85

113.05

113.30

112.98