MCX Trading based pivot point on two prevailing tendencies
If the MCX market opens above the pivot point(P) then the bias for the day is long trades.
If the MCX market opens below the pivot point(P) then the bias for the day is for short trades.
In MCX market,If Commodity price opens above the pivot point, prices will tend to stay above that point (fulcrum) until it reaches a resistance point. Conversely,If Commodity price begins below the pivot point, the price will tend to stay below that point until it reaches a support point.
Daily MCX Pivot Levels for All MCX Commodities : Click here
If the MCX market opens below the pivot point(P) then the bias for the day is for short trades.
In MCX market,If Commodity price opens above the pivot point, prices will tend to stay above that point (fulcrum) until it reaches a resistance point. Conversely,If Commodity price begins below the pivot point, the price will tend to stay below that point until it reaches a support point.
Daily MCX Pivot Levels for All MCX Commodities : Click here
