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

Here is our technical view on Commodities.

Oct 21, 2020 07:10 IST India Infoline News Service

Commodities
Gold
MCX Gold price has moved above consolidation which suggests a rise in optimism. The hourly RSI is in positive crossover and rising. On the lower end support seen at 50,670 while on the higher end resistance seen at 5,1100/51,250.

Crude Oil
MCX Crude oil price moved above the previous swing high on the hourly chart. The hourly RSI is in a positive crossover. On the lower end support seen at 2,950 while on the higher end resistance seen at 3,150.

Base Metal
MCX Copper price found resistance around the recent high and settled a bit lower. The hourly RSI is in a negative crossover. On the lower end support seen at 524 while on the higher end resistance seen at 533/537.

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