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 October 16, 2017

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 29667 29758 29810 29901 29953
Silver 40039 40220 40343 40524 40647
Crude 3226 3265 3311 3350 3396
Natural Gas 191.43 193.27 195.33 197.17 199.23
Copper 444.10 446.10 448.40 450.40 452.70
Nickel 728.80 742.50 749.80 763.50 770.80
Lead 161.33 162.42 164.28 165.37 167.23
Zinc 207.85 210.10 212.85 215.10 217.85
Aluminium 135.02 136.23 138.02 139.23 141.02