MCX Commodities Trading Levels for July 17, 2017

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 July 17, 2017

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 27642 27815 27942 28115 28242
Silver 35956 36459 36838 37341 37720
Crude 2916 2955 2982 3021 3048
Natural Gas 188.13 190.17 191.53 193.57 194.93
Copper 378.57 381.08 382.62 385.13 386.67
Nickel 584.67 598.23 606.37 619.93 628.07
Lead 144.62 146.48 147.42 149.28 150.22
Zinc 176.17 177.73 179.07 180.63 181.97
Aluminium 122.23 122.72 123.28 123.77 124.33
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