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Commodity Mantra Morning Update: Gold lower, oil higher, base metals remain mix

MCX Gold faced selling pressure during the session as US 10 years bond yield surged for the third day in row. On MCX, price ended about 1% lower after a negative start. The daily RSI is in a negative crossover. On the higher end 45100 may act as resistance. On the lower end support seen at 44500.
MCX Crude Oil has remained range bound for the day. On the daily chart price moved up above the consolidation. Daily RSI is in a positive crossover. The bias for the near term is likely to remain sideward to positive. On the higher end price may find resistance around 4600; on the lower end support seen at 4370.
MCX Copper price has remained sideward throughout the session. On the daily chart, an inside day bar has formed which suggests a pause in near term trend or reversal. The daily RSI is in negative crossover. However, the short term trend is expected to remain positive as long as price sustains above 660. On the lower end, support seen at 660 while on the higher end resistance seen at 678.

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