Finding MCX Commodities Support & Resistance levels in Lifetime High/Low

Every Commodity in MCX likely to follow some Technical & Psychological Levels.These Technical & Psychological levels can be tracked from Previous/Past Trading Sessions.But,there some occasions MCX Commodities are not trading in Past Trading Levels,MCX Commodities trading in Lifetime high/New high & Lifetime Low/New Low,Finding Support & Resistance through Technical charts cant be done this time.This Post explains about how to find New Support/Resistance Levels when the MCX Commodity trading in Lifetime High/New High.

MCX Commodities are in Lifetime High/low,Finding next levels through Technical study may not be possible.This impossible task can be made possible with Intervention of Pivot Calculation.Pivot levels are the best suitable option to find trading levels when markets are in Lifetime High/Low.Pivot Support & Resistance Levels can be derived thru Mathematical calculation & its  nearly 80% correlate with Technical Levels.Weekly MCX Pivot levels are effective tool for Market Trend/Direction.

When the markets are in New High,Next Resistance can be easily tracked by Pivot Resistance because MCX Market are not trade in Previous Trading Levels.When MCX Commodities are trade in Lifetime/ New Low,Supports can be derived by the Pivot Support Levels.So,Finding Support & Resistance through Pivot Calculation can be done easily & accurately.

For Example MCX Crude Oil trading this New Levels after 5 years.MCX Crude Oil hitted all time/Lifetime High at 6333 on 15.07.2008.That time International Crude Oil hitted All time/Lifetime High of $147 when Indian Rupee against Dollar(USDINR) is 36.But MCX Crude Oil trading nearly Lifetime High when International crude trade at 102 due to the Weakness Of Indian Rupee(USDINR). Now a days Indian Rupee at 61 rupees per US Dollar.

USDINR hitting in New levels of Lifetime/All time High.Finding the next Resistance levels thru Pivot Calculation/Pivot Levels.Pivot Weekly Resistance will be taken for the upper hitting levels.

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