Commodity Mantra Morning Update: Gold down oil and base metals remain positive - 4th feb

MCX Gold prices consolidated around previous session’s low. The daily RSI is in a negative crossover. On the lower end support seen at 47500 while on the higher end resistance seen at 48600.

MCX Crude Oil prices continued to move up for the third consecutive days. The daily RSI is in positive crossover. On the lower end support seen at 3970 while on the higher end resistance seen at 4200.

MCX Copper price has formed a bullish engulfing pattern on the daily chart which suggests price recovery over the short term. The daily RSI is in positive crossover. On the lower end support seen at 589 while on the higher end resistance seen at 608.