Support & Resistance

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.
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 02, 2014

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 27876 27906 27936 27966 27996
Silver 42702 42766 42855 42919 43008
Copper 423.98 425.57 427.63 429.22 431.28
Nickel 1125 1130 1137 1142 1149
Lead 134.50 134.75 134.90 135.15 135.30
Zinc 141.70 142.20 142.60 143.10 143.50
Aluminium 125.40 126.10 126.70 127.40 128.00
Crude Oil 5793 5808 5816 5831 5839
Natural Gas 243.63 245.77 246.93 249.07 250.23

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