MCX Important Levels (Current Fut Expiry)
Gold
Support: 72600
Resistance: 73100
Silver
Support: 83680
Resistance: 84600
Crude Oil
Support: 7150
Resistance: 7260
Natural Gas
Support: 145.20
Resistance: 149.80
These are the important levels for MCX commodities in the current futures expiry. It is crucial for traders and investors to keep an eye on these levels as they can provide valuable insights into potential price movements.
Starting with gold, the support level is at 72600, which means that if the price of gold falls towards this level, it is expected to find buying interest and potentially bounce back. On the other hand, the resistance level is at 73100, indicating that if the price of gold rises towards this level, it may face selling pressure and struggle to move higher.
Moving on to silver, the support level is at 83680, suggesting that if the price of silver declines towards this level, it could attract buyers and potentially reverse its downward trend. Conversely, the resistance level is at 84600, implying that if the price of silver rallies towards this level, it may encounter selling pressure and struggle to continue its upward momentum.
For crude oil, the support level is at 7150, indicating that if the price of crude oil drops towards this level, it is likely to find support and potentially rebound. On the other hand, the resistance level is at 7260, suggesting that if the price of crude oil rises towards this level, it may face selling pressure and struggle to move higher.
Lastly, natural gas has a support level of 145.20, which means that if the price of natural gas falls towards this level, it is expected to find buying interest and potentially reverse its downtrend. Conversely, the resistance level is at 149.80, indicating that if the price of natural gas rises towards this level, it may encounter selling pressure and struggle to continue its upward movement.
These levels can serve as important reference points for traders and investors in their decision-making process. However, it is important to note that market conditions can change rapidly, and it is always advisable to use these levels in conjunction with other technical and fundamental analysis tools for a comprehensive understanding of the market.
