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 July 26, 2016

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 30592 30749 30840 30997 31088
Silver 45493 45983 46291 46781 47089
Crude Oil 2869 2898 2946 2975 3023
Natural Gas 179.93 181.97 184.73 186.77 189.53
Copper 329.33 331.57 333.53 335.77 337.73
Nickel 693.37 699.63 703.57 709.83 713.77
Lead 122.60 123.25 124.00 124.65 125.40
Zinc 150.38 151.17 151.83 152.62 153.28
Aluminium 106.38 107.02 107.53 108.17 108.68