Commodity Mantra Morning Update: All commodities trade lower

Here is our technical view on Commodities.

Mar 02, 2021 07:03 IST India Infoline News Service

MCX Gold prices remained bearish throughout the session. On the hourly chart, price has slipped below its previous swing low. The hourly RSI is in positive divergence. On the lower end price may drift down towards 44700. On the higher end price has resistance at 46000.
MCX Crude Oil price found resistance around 4650 which led to sharp fall in price. On the hourly chart, the RSI is in negative crossover. On the lower end support seen at 4340; on the higher end resistance seen at 4600.
MCX Copper price slipped below previous consolidation on the hourly chart. The daily RSI is in negative crossover and falling. On the lower end support seen at 690/685 while on the higher end resistance seen at 710.

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