Commodity Mantra Morning Update: Commodities remain volatile 1st Feb 2021

MCX Gold prices remained volatile throughout the session. On the higher end it found resistance around 49500 whereas on the lower it found support above 48600. The hourly RSI is in a positive crossover. The sentiment remains sideward to negative. On the lower end support seen at 48600/48200 while on the higher end resistance seen at 49350/49550.

MCX Crude Oil prices remained highly volatile for the day. On the lower end it found support around 3800 whereas on the higher end 3900 has acted as resistance. The hourly RSI is in negative crossover. On the lower end support seen at 3790 while on the higher end resistance seen at 3940.

MCX Copper price remained mostly sideward throughout the session. The daily RSI is in negative crossover. The price may choppy it remains within the bands of 595-605. On the lower end support seen at 595/590 while on the higher end resistance seen at 608/616.