Commodity Mantra Morning Update: Metals lower, Oil higher for second consecutive day

Here is our technical view on Commodities.

February 03, 2021 7:10 IST India Infoline News Service

MCX Gold prices continued to remain extremely bearish as price traded below previous consolidation on the daily chart. The daily RSI is in a negative crossover. On the lower end support seen at 47700/47500 while on the higher end resistance seen at 48200/48500.
  
MCX Crude Oil prices moved up after a consolidation on the daily chart. The daily RSI is in positive crossover. On the lower end support seen at 3890 while on the higher end resistance seen at 4100.
           
MCX Copper price continued to remained negative as the metal corrected for the third consecutive days. The daily RSI is in negative crossover. On the lower end support seen at 580 while on the higher end resistance seen at 608.
           

Related Story

Get Access to Stock Reports+ and Customised Investment Ideas