Commodity Mantra Morning Update: Gold up Oil and Base Metals trade lower

Here is our technical view on Commodities.

March 10, 2021 8:22 IST

MCX Gold traded with mostly bullishness as price found support around 44000. The hourly RSI is in positive crossover and has come out from the oversold zone. Price has moved above previous session’s high. Going forward, a decisive move above 45000 may induce further recovery in the price. On the lower end, crucial support is place at 44400.

MCX Crude Oil price continued to fall as it formed a lower top lower bottom formation on the hourly chart. The daily RSI is in negative crossover. On the lower end support seen at 4600; on the higher end resistance seen at 4800.

MCX Copper price slipped after an upward consolidation on the daily chart. The hourly RSI is in negative crossover. On the lower end support seen at 666 while on the higher end resistance seen at 796.