Commodity Mantra Morning Update: Metals lower oil sideward

Here is our technical view on Commodities.

March 01, 2021 8:22 IST

MCX Gold prices remained highly volatile throughout the session. On the hourly chart, price has slipped below its previous swing low. The hourly RSI is in positive divergence. On the higher end price has resistance at 46500. Upon decisive trade above 46500 the yellow metal may move towards 47000, on the lower end support is visible at 45500.

MCX Crude Oil price has remained sideward throughout the session. On the hourly chart, the RSI is in negative crossover. On the lower end support seen at 4540; on the higher end resistance seen at 4700.

MCX Copper price slipped below previous consolidation on the hourly chart. The daily RSI is in negative crossover and falling. On the lower end support seen at 690/685 while on the higher end resistance seen at 720.