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 December 15, 2017

 

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 27928 28072 28245 28389 28562
Silver 36411 36740 37130 37459 37849
Crude 3584 3621 3639 3676 3694
Natural Gas 167.70 170.00 172.70 175.00 177.70
Copper 431.32 435.38 438.02 442.08 444.72
Nickel 703.47 710.53 715.57 722.63 727.67
Lead 157.55 158.85 160.75 162.05 163.95
Zinc 201.28 203.12 204.08 205.92 206.88
Aluminium 128.28 129.57 130.43 131.72 132.58