Commodity Mantra Morning Update: All commodities trade sidewards

Here is our technical view on Commodities.

Jan 18, 2021 07:01 IST India Infoline News Service

Commodities
MCX Gold prices remained volatile with mostly negative bias. The hourly RSI has entered in a negative crossover. On the lower end support seen at 48000 while on the higher end resistance seen at 49000.
MCX Crude Oil prices has formed a bearish engulfing pattern which suggests weakness in the short term. The hourly RSI is in negative crossover. On the lower end support seen at 3700 while on the higher end resistance seen at 3920.

MCX Copper price slipped after a consolidation. The daily RSI is in negative crossover. On the lower end support seen at 595 while on the higher end resistance seen at 612.

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