MCX Gold started higher on the back of dovish stance by Fed chairman; however, the yellow metal failed to stay higher throughout the session due to rising US 10 years bond yield. The hourly RSI has entered in a positive crossover. Going forward, a decisive move above 45,000 may induce a rally towards 45,500. On the lower end, crucial support is place at 44,600.
MCX Crude Oil has slipped below previous consolidation low on the hourly chart which indicates a rise in bearishness. The daily RSI is in negative crossover. On the lower end support seen at 4330; a decisive fall below 4330 may trigger a further fall in the price. On the higher end resistance seen at 4550.
MCX Copper price started on muted note and remained sideward throughout the session. However, price has remained below 100EMA on the hourly charts. The hourly RSI is in negative crossover. On the lower end, support seen at 665 while on the higher end resistance seen at 685.
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