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Support & Resistance

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 September 27, 2016

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 31157 31243 31296 31382 31435
Silver 46047 46274 46537 46764 47027
Crude Oil 2939 3011 3050 3122 3161
Natural Gas 200.57 202.43 203.97 205.83 207.37
Copper 323.70 325.20 326.35 327.85 329.00
Nickel 685.20 690.00 697.50 702.30 709.80
Lead 125.63 127.32 128.23 129.92 130.83
Zinc 148.50 150.30 151.25 153.05 154.00
Aluminium 107.00 108.45 109.35 110.80 111.70