Commodity Mantra Morning Update: Commodities remain volatile Jan 27th

MCX Gold prices has traded with volatility during the trading session. Overall range was almost 400 points for the day. On the lower end price found support above 48900 whereas on the higher end price found resistance round 49350. The hourly RSI is in a negative crossover. Bias remains sideward as long as price sustains within 48800- 49400. On the lower end support seen at 48600 while on the higher end resistance seen at 49500.

MCX Crude Oil prices remained in a range for the day; on the lower end it found support above 3370 whereas on the higher end 3870 has acted as resistance. The hourly RSI is in positive crossover. On the lower end support seen at 3750 while on the higher end resistance seen at 3940.

MCX Copper price moved higher after a downwards consolidation on the hourly chart. The hourly RSI is in positive crossover. The bias is likely to remain weak as long as price sustain below 616. On the lower end support seen at 604/595 while on the higher end resistance seen at 621.