Commodity Mantra Morning Update: Metals lower, Oil higher for second consecutive - 3rd feb 2021

MCX Gold prices continued to remain extremely bearish as price traded below previous consolidation on the daily chart. The daily RSI is in a negative crossover. On the lower end support seen at 47700/47500 while on the higher end resistance seen at 48200/48500.

MCX Crude Oil prices moved up after a consolidation on the daily chart. The daily RSI is in positive crossover. On the lower end support seen at 3890 while on the higher end resistance seen at 4100.

MCX Copper price continued to remained negative as the metal corrected for the third consecutive days. The daily RSI is in negative crossover. On the lower end support seen at 580 while on the higher end resistance seen at 608.