MCX Trading with Pivot Levels

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

Pivot point calculation& Trading With Pivot Levels

Pivot Points trading is the most basic trading strategy has been around for a long time and was originally used by floor traders. This was a nice simple way for floor traders to have some idea of where the market was heading during the course of the day with only a few simple calculations.

Pivot point calculations are commonly used in the Equity,Forex,and Commodity futures markets.These calculation are used by the floor traders to predict support and resistance levels. 

Pivot Points are support and resistance are calculated using the high, low,and close, from the previous(Yesterday/Last) trading session. The pivot Point, support and resistance calculated from that are collectively known as pivot levels.

Standard pivot levels include the pivot point itself, three full Support levels, and three full Resistance levels.Pivot points are used as support and resistance levels, and as areas where significant price movement should be expected (such as reversals, or breakouts).


Resistance

A resistance level is a price that tends to prevent further upward movement.

Support

 A support price is a price that tends to prevent further downward movement.