MCX Crude Oil price has slipped below previous consolidation on the daily chart which suggests rise in pessimism. The daily RSI is in negative crossover. Going forward, the bias is likely to remain sideward to negative as long as price sustains below 4800; on the lower end price may move towards 4500 over the near term. On the higher end price may find resistance 4800.
MCX Copper price has remained sideward during the session. Price has found resistance around 730 whereas on the lower end it made an intraday low of 724. Daily RSI is in positive crossover. The trend may remain positive as long as price sustains above 720. On the higher end resistance seen at 730. A breakout above 730 may induce further rally towards 740/760.