Commodity Mantra Morning Update: Gold, oil lower while Base Metals steady

Here is our technical view on Commodities.

Oct 29, 2020 07:10 IST India Infoline News Service

Commodities
MCX Gold witnessed a sharp correction during the day which led to fall below the consolidation. The hourly RSI is in negative crossover. On the lower end, support seen at 50300 while on the higher end, resistance seen at 51100.

MCX Crude oil price slipped lower before finding support at the previous swing low. The hourly RSI is in negative crossover. On the lower end, support seen at 2700 while on the higher end, resistance seen at 2850.

MCX Copper price slipped lower after it found resistance around previous swing high. The hourly RSI is in negative crossover. On the lower end, support seen at 525 while on the higher end, resistance seen at 533.

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