MCX SUPPORTS & INTRADAY LEVEL REPORTS
Date : 2021 Wednesday
MCX Supports & MCX Resistance Level is Daily Update Time 09:15 AM To 09:30 AM
MCX Supports : Commodity trends of major commodities are updated daily for Intraday,Short term,Medium term and Long term.Investor/trader can click on respective commodity to get the trend.Rate and analysis are based on MCX exchange.
- Pivot Point in MCX Supports A technical indicator derived by calculating the numerical average of a particular stock’s high, low and closing prices. The pivot point is used as a predictive indicator. If the following day’s market price falls below the pivot point, it may be used as a new resistance level. Conversely, if the market price rises above the pivot point, it may act as the new support level.
- Support (Buy Level) in MCX Supports A support level is a price level where the price tends to find support as it is going down. This means the price is more likely to “bounce” off this level rather than break through it. However, once the price has passed this level, even by a small amount, it is likely to continue dropping until it finds another support level.
- Resistance (Sell Level) in MCX Supports A resistance level is the opposite of a support level. It is where the price tends to find resistance as it is going up. This means the price is more likely to “bounce” off this level rather than break through it.
IMPORTANT OF MCX SUPPORT LEVEL IN TRADING FOR COMMODITY
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
Support and resistance levels both test and confirm trends and need to be monitored by anyone who uses technical analysis. As long as the price of the share remains between these levels of support and resistance, the trend is likely to continue. It is important to note, however, that a break beyond a level of support or resistance does not always have to be a reversal. For example, if prices moved above the resistance levels of an upward trending channel, the trend has accelerated, not reversed. This means that the price appreciation is expected to be faster than it was in the channel.
Important support and resistance
Being known to these important support and resistance points should affect the way that you trade a stock. Traders may avoid placing orders at these major points, as the area around them is usually marked by a lot of volatility. If you feel confident about making a trade near a support or resistance level, it is important that you follow this simple rule: do not place orders directly at the support or resistance level. This is because in many cases, the price never actually reaches the whole number, but flirts with it instead.
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