Commodity Mantra Morning Update: Gold oil steady base metals trade higher 8th feb 2021

MCX Gold prices formed a bullish harami pattern on the daily chart which is a bullish set up and price is expected to move higher as long as the recent low is held. The daily RSI is in a negative crossover. On the lower end support seen at 45500 while on the higher end resistance seen at 47600.

MCX Crude Oil prices witnessed a sideward movement during the trading session. The daily RSI is in positive crossover. On the lower end support seen at 4050 while on the higher end resistance seen at 4200.

MCX Copper price has moved up after a downwards consolidation on the daily chart. The daily RSI is in positive crossover. On the lower end support seen at 595 while on the higher end resistance seen at 616