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 March 24, 2017

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 28639 28720 28830 28911 29021
Silver 40992 41156 41324 41488 41656
Crude 3097 3120 3153 3176 3209
Natural Gas 193.57 195.73 197.67 199.83 201.77
Copper 377.80 380.95 382.55 385.70 387.30
Nickel 646.60 649.80 654.90 658.10 663.20
Lead 150.83 152.72 154.53 156.42 158.23
Zinc 179.73 181.87 184.28 186.42 188.83
Aluminium 124.72 125.28 125.57 126.13 126.42