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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 February 17, 2017

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 29082 29281 29382 29582 29683
Silver 42483 42766 42939 43222 43395
Crude Oil 3509 3548 3571 3610 3633
Natural Gas 188.03 190.27 193.93 196.17 199.83
Copper 393.10 397.65 402.65 407.20 412.20
Nickel 719.13 729.57 734.93 745.37 750.73
Lead 149.38 151.42 154.08 156.12 158.78
Zinc 187.78 190.47 192.33 195.02 196.88
Aluminium 125.12 126.03 126.72 127.63 128.32

 

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