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 August 16, 2017

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 28941 28998 29079 29136 29217
Silver 38667 38910 39118 39361 39569
Crude 3010 3040 3094 3124 3178
Natural Gas 184.33 186.77 190.23 192.67 196.13
Copper 407.62 409.23 410.62 412.23 413.62
Nickel 653.87 660.73 671.47 678.33 689.07
Lead 148.05 148.70 149.15 149.80 150.25
Zinc 184.22 185.48 186.27 187.53 188.32
Aluminium 128.22 128.68 129.32 129.78 130.42