Commodity Mantra Morning Update: Commodities remain volatile

Here is our technical view on Commodities.

Jan 22, 2021 08:01 IST India Infoline News Service

Commodities
MCX Gold price has paused after rally in the preceding trading session. The hourly RSI is in a positive crossover. Overall, bias remains positive as long as price holds above 49000. On the lower end support seen at 48800 while on the higher end resistance seen at 49800.
  
MCX Crude Oil prices slipped below previous session’s low and settled for the session with a negative sentiment. The daily RSI is in negative crossover and coming out of overbought zone. On the lower end support seen at 3770 while on the higher end resistance seen at 3960.
           
MCX Copper price remained volatile during the previous session. The hourly RSI is in negative crossover. The bias is likely to remain weak as long as price sustain below 616. On the lower end support seen at 604/598 while on the higher end resistance seen at 616/621.
           

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