Commodity Mantra Morning Update: Gold, Oil steady; Base Metals trading higher

Here is our technical view on Commodities.

Oct 20, 2020 07:10 IST India Infoline News Service

Commodities
Gold
MCX Gold price has slipped lower after it faced resistance around 51,000. The hourly RSI is in negative crossover and falling. On the lower end support seen at 50,400/50,200 while on the higher end resistance seen at 50850/51100.

Crude Oil
MCX Crude oil price slipped lower as it faced resistance around a historical swing high on the hourly chart. The hourly RSI is in a negative crossover. On the lower end support seen at 2,930 while on the higher end resistance seen at 3,060.

Base Metal
MCX Copper price moved higher after a downwards consolidation on the hourly chart. The hourly RSI is in a negative crossover. On the lower end support seen at 523 while on the higher end resistance seen at 533.

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