MCX Gold moved up higher after a consolidation on the hourly chart. On the daily chart a bullish engulfing pattern has formed. The daily RSI is in a positive crossover. On the higher end 45000 may act as resistance. A decisive move above 45000 may induce rally towards 45700 over the near term. On the lower end support seen at 44700/44400.
MCX Crude Oil has found resistance around the 4550 which led to a quick correction in the price. Daily RSI is in a negative crossover. The bias for the near term is likely to remain negative. On the lower end price may find fall towards around 4220; on the higher end resistance seen at 4500.
MCX Copper price has remained mostly sideward throughout the day. The hourly RSI is in positive crossover. Both near and short term trend is likely to remain positive as long as price sustains above 664. On the lower end, support seen at 664 while on the higher end resistance seen at 676.
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