MCX Commodities Trading Levels for May 16, 2018

Trading as per support and resistance levels may be quite useful for daily trading in commodities.

  • Resistance is termed as the level where the commodity generally gets some opposite force before it can go further up.
  • Support is the level where a stock get buying interest before it can fall further.

Under the normal market conditions or in the absence 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 stock at support levels and sell at resistance levels.
In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.

Support Resistance Levels for Major MCX Commodity Futures for May 16, 2018

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 30928 31047 31278 31397 31628
Silver 39618 39778 39989 40149 40360
Crude 4735 4795 4841 4901 4947
Natural Gas 189.53 191.77 193.63 195.87 197.73
Copper 455.88 459.27 463.48 466.87 471.08
Nickel 954.67 970.23 982.77 998.33 1010.87
Lead 157.87 159.13 160.92 162.18 163.97
Zinc 205.40 206.95 208.35 209.90 211.30
Aluminium 152.77 156.03 157.82 161.08 162.87