Commodity Mantra Morning Update: Commodities remain volatile - February 15, 2021

MCX Gold prices remained volatile during the last session. On the lower end price found support above 47000 whereas on the higher end price found resistance around 47600. The daily RSI is in a negative crossover. On the lower end support seen at 47000 while on the higher end resistance seen at 48200.

MCX Crude Oil prices remained volatile during the last trading session. The daily RSI is in overbought zone; however, bullish sentiment resumed after price fails to move down below 4200 decisively. Going forward we may see consolidation happing around the current level of 4300. On the lower end support seen at 4200 while on the higher end resistance seen at 4380.

MCX Copper price has remained within a range for the last day. The daily RSI is in positive crossover. The bias turns back into strength. On the lower end support seen at 626 while on the higher end resistance seen at 650.