Commodity Mantra Morning Update: Gold lower Oil higher while Base Metals traded mostly lower

Here is our technical view on Commodities.

Apr 29, 2021 07:04 IST India Infoline News Service

Commodities
MCX Gold remained volatile during the day. On the higher end it found resistance around 47300 whereas on the lower price found support around 46800. The daily RSI (14) is in negative crossover. The short term bias is likely to remain volatile as long as price trades below 47300.On the lower end support seen at 46800. On the higher end resistance at 47300/47700.
  
MCX Crude Oil price moved up higher as it sustained above previous consolidation on the hourly chart. The daily RSI is in positive crossover. The bias is likely to remain positive as long as price stays above 4600. On the higher end price may move towards 4900.
           
MCX Copper price started higher but remained volatile before ending around previous closing. On the daily chart, price sustained above previous swing high. Daily RSI is in negative crossover. The trend may remain positive as long as it sustains above 755. On the higher end resistance seen at 770.
           

Related Story

Open Free Demat Account (Rs699)