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 June 28, 2017

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 28292 28432 28540 28680 28788
Silver 37786 38081 38294 38589 38802
Crude 2730 2793 2834 2897 2938
Natural Gas 193.47 194.83 195.97 197.33 198.47
Copper 366.78 371.57 374.78 379.57 382.78
Nickel 576.00 584.30 589.50 597.80 603.00
Lead 142.07 144.28 145.72 147.93 149.37
Zinc 173.43 175.37 176.53 178.47 179.63
Aluminium 118.52 119.88 120.62 121.98 122.72