Vruksha Financial Planners: MCX Commodities Intraday Trading Support,Resistance Levels for 24.04.2019

Points To Remember when using Pivot levels

Three most important pivot levels are

Pivot point -P

First Resistance-R1

First Support-S1.

In any MCX Commodity opens above Pivot go for Buy with Target of one(or) two point below First Resistance(R1) level &keeping Stoploss of first support (S1).Mostly, First level(S1/R1) of Weekly pivot levels can be reached.

First Fundamental Of Pivot Trading after the opening range (first 15-30 min. to one hour), if price is above/below the Pivot, Price Action will strongly tend to remain above/below the Pivot for the session.

In MCX,If Running/Current contract of a commodity not trading specified range/limit,lets use Next contract levels because Support/Resistance s are same for one commodity,Its not differs from contract to contract.That s purpose of Publishing all Contracts of MCX levels.

Pivot Points and Support and Resistance levels behave exactly like any historical Support and Resistance level.Pivot Support & Resistance level are 60-80 % merely correlate with Historical support & resistance.

Supports and Resistances are more helpful for fixing MCX Target and Stop loss. For Target in MCX Buying,Keep Target below Resistance level,In Selling Keep target above Support level.

For Stop Loss Fixing in MCX, Buying in MCX mean Keep Stop loss below Support level,Selling in MCX mean keep Stop loss above Resistance.

For MCX Levels click Read more

MCX Gold:

Yesterday MCX Gold Closing Price 31562

Yesterday's Range 31,450 - 31,640
52 week Range 29,268 - 34,031

MCX Gold Resistances 31651,31740
MCX Gold Supports      31461,31360

MCX Silver

Yesterday MCX Silver Closing Price 36976

Yesterday's Range                  36830-37,455
52 week Range                         34981-41698

MCX Silver Resistances       37334,37712
MCX Silver Supports            36719,36462

MCX Crude Oil

Yesterday MCX Crude Oil Closing Price 4641

Yesterday's Range   4590-4666
52 week Range       2993-5669

MCX Crude Resistances 4674,4708
MCX Crude Supports      4598,4556

MCX Copper

Yesterday MCX Copper Closing Price 446.30

Yesterday's Range 443.75-449.20
52 week Range 397.40-493.25

MCX Copper Resistances 449,451.80
MCX Copper Supports 443.60,440.90

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