MCX Crude Oil price has witnessed an intraday rally on the back of consolidation breakout. On the lower price found support around 4400; on the higher end price moved above 4550 before closing near the middle of the range. Going forward, the price may remain volatile; on the higher end a decisive move above 4550 may induce a rally in the oil price. On the lower end price may find support around 4400.
MCX Copper price has remained sideward throughout the session for the fifth day in a row. On the daily chart, price has been consolidating for the last few sessions. Daily RSI is in negative crossover. The trend may remain sideward as long as price sustains below 696. A decisive breakout above 696 may induce strong rally in the price of copper.