Last Update: 21 Nov 2019 06:09:23HRS

MCX Support & Resistance

MCX Support levels are used to specify the points at which a stock might not fall below or not trade above, without a positive amount of complexity. At these levels, a stock may even see some support, hold up, or may break all through it on its way to either new lows or highs of level. This can be very useful to get lot of decision making for prediction of high low for any commodity elements. Support and resistance is a concept in technical analysis that the movement of the price of a security will tend to stop and reverse at certain encoded price levels. Support and resistance levels are areas where prices may stop and turn. Knowing whenever this may happen helps you enter and exit your trade’s at the most profitable times. Support and resistance levels do seem to be precise price points. Rather, they are general price ranges.

Last Update: 21 Nov 2019 06:09:23HRS

COMMODITY SUP 1 SUP 2 RES 1 RES 2
Gold 650.70 647.70 658.20 661.20
Silver 184.00 183.30 185.50 186.00
Copper 4075.00 4062.00 4103.00 4112.00
Lead 19051.00 19024.00 19109.00 19129.00
Zinc 801.40 798.30 810.10 813.70
Nickel 130.20 130.10 130.60 130.70
Aluminium 1065.80 1059.10 1078.90 1082.40
Natural Gas 153.70 153.50 154.20 154.40

IMPORTANT OF MCX SUPPORT LEVEL

Support and resistance analysis is an important part of trends because it can be used to make trading decisions and identify when a trend is reversing. For example, if a trader identifies an important level of resistance that has been tested several times but never broken, he or she may decide to take profits as the security moves toward this point because it is unlikely that it will move past this level. Support and resistance levels each take a look at and make sure trends and want to be monitored by anyone who uses technical analysis. As long because the value of the share remains between these levels of support and resistance, the trend is probably going to continue. It’s important to notice, however, that a clear stage on the far side grade of support or resistance doesn't continuously have to be compelled to be a reversal. For instance, if costs affected on top of the resistance levels of associate degree upward trending channel, the trend has accelerated, not reversed. This means that the worth appreciation is expected to be quicker than it absolutely was within the channel. Being best-known to those important support and resistance points ought to have an effect on the way that you simply trade a stock. Traders might avoid putting orders at these major points, because the space around them is typically marked by loads of instability. If you are feeling assured concerning creating a trade close to a support or resistance level, it's very important that you simply follow this easy rule: don't place orders directly at the support or resistance level. This is often as a result of in several cases, the worth ne'er truly reaches the entire range.