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 01, 2016

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 28470 28548 28634 28712 28798
Silver 38075 38237 38514 38676 38953
Crude Oil 3286 3310 3340 3364 3394
Natural Gas 143.13 149.07 152.33 158.27 161.53
Copper 310.30 311.40 313.40 314.50 316.50
Nickel 563.57 567.63 573.77 577.83 583.97
Lead 113.00 113.75 114.55 115.30 116.10
Zinc 126.57 128.03 128.87 130.33 131.17
Aluminium 103.77 104.13 104.62 104.98 105.47