MCX Gold traded with the volatility throughout the day. On the daily chart a bearish engulfing pattern is formed. The daily RSI is in a negative crossover. On the lower end, crucial support is place at 44,600; a decisive breakdown below 44600 may trigger a correction towards 44100. On the higher end resistance seen at 44900.
MCX Crude Oil has slipped lower as it failed to sustained above 4400 after previous session’s strong recovery. Hourly RSI is in a negative crossover. The bias for the near term is likely to remain sideward to negative. On the higher end price may find resistance around 4400; on the lower end support seen at 4140.
MCX Copper price slipped lower as it found resistance at 670. The hourly RSI is in negative crossover. The trend is expected to remain sideward to negative as long as price sustains below 672. On the lower end, support seen at 655/650 while on the higher end resistance seen at 672.
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