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 January 20, 2017

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 28374 28463 28548 28637 28722
Silver 40456 40913 41309 41766 42162
Crude Oil 3445 3469 3503 3527 3561
Natural Gas 218.50 224.00 227.90 233.40 237.30
Copper 385.87 389.38 393.12 396.63 400.37
Nickel 656.23 664.67 680.43 688.87 704.63
Lead 153.03 154.27 155.83 157.07 158.63
Zinc 183.55 185.30 187.05 188.80 190.55
Aluminium 123.10 123.65 124.20 124.75 125.30