Commodity Mantra Morning Update: Gold up, Oil and Base Metals trade steady

Here is our technical view on Commodities.

Jan 21, 2021 08:01 IST India Infoline News Service

Commodities
MCX Gold prices moved up sharply after a downward consolidation on the daily chart suggesting a rise in optimism. The hourly RSI is in a positive crossover. On the lower end support seen at 48800 while on the higher end resistance seen at 49800.

MCX Crude Oil prices remained sideward after a rally on the hourly chart suggesting a pause. The daily RSI is in positive crossover. On the lower end support seen at 3800 while on the higher end resistance seen at 4000.

MCX Copper price remained volatile during the previous session. The hourly RSI is in positive crossover. On the lower end support seen at 604 while on the higher end resistance seen at 618.

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