Commodity Mantra Morning Update: Gold weak base metal and oil remain strong

MCX Gold prices traded with bearishness throughout the day. The daily RSI has entered in a negative crossover. On the higher end price has resistance at 47000. Upon decisive trade above 47000 the yellow metal may move towards 47600, on the lower end support is visible at 46000.

MCX Crude Oil price started the day lower but moved up during the day. The near term bias is likely to remain bullish as long as price sustains above 4400. On the lower end support seen at 4400; on the higher end resistance seen at 4600.

MCX Copper price started on a muted note and moved up smartly. The daily RSI is in positive crossover. On the lower end support seen at 700 while on the higher end resistance seen at 745.