Daily Commodity Reports

Copper

Monday 27 January, 2025

Short term - Technical Outlook
Copper is currently trading within a symmetrical triangle on the 4-hour chart. The last session closed 8.50 points higher at 841.25. Further momentum is expected above 844 or below 840. The descending trendline indicates that copper may encounter resistance in the 845–847 range.
Short term Research Report Call
Buy: Above 844, with targets at 847.5, 854, and 857.Stop Loss: 840
Sell: Below 840, with targets at 835, 828, and 823.5.Stop Loss: 845
Short term Chart

Validity

31/01/2025

Pivot

839.08

Buy Above

842.92

R1

848.20

R2

853.72

R3

863.56

Stop Loss

841.48

Pivot

839.08

(All values are in INR)

Sell Below

835.24

S1

829.96

S2

824.44

S3

814.60

Stop Loss

841.48

Crude Oil

Monday 27 January, 2025

Short term - Technical Outlook
Crude oil has been falling for the last 7 sessions, closing at 6427, down by 57 points, and is currently trying to take support from the descending trendline as shown on the chart. A reversal could occur from this level, but confirmation is needed. A strong close above 6495 could signal a positive move, while a drop below 6425 would add to negative sentiment. Brent crude is trading at 77.63, down by 1.11%.
Recent news highlights that U.S. President Trump's appeal to OPEC to reduce oil prices, along with the continued effects of OPEC+ production cuts, is contributing to volatility in crude oil prices. The expectation of weaker demand and ongoing geopolitical issues is adding to the bearish pressure. A close below 6425 could signal further declines in crude oil.
Short term Research Report Call
Buy above 6425 with targets 6588, 6641, 6708 and stop loss 6370.
Sell below 6425 with targets 6370, 6324, 6294 and stop loss 6495.
Short term Chart

Validity

19/02/2025

Pivot

6518.67

Buy Above

6572.27

R1

6645.97

R2

6723.02

R3

6860.37

Stop Loss

6552.17

Pivot

6518.67

(All values are in INR)

Sell Below

6465.07

S1

6391.37

S2

6314.32

S3

6176.97

Stop Loss

6552.17

Gold

Monday 27 January, 2025

Short term - Technical Outlook
Gold is trading within an ascending channel, with the last session closing 400 points higher at 80,026, reaching an all-time high. This surge is driven by a weakening US dollar, increased safe-haven demand amid global economic uncertainties, and concerns over rising geopolitical tensions and upcoming US tariffs. These factors continue to support bullish sentiment in the gold market.
Technically, a breakout above 80,320 may drive further gains, while a break below 79,740 could signal a corrective pullback.
Short term Research Report Call
Buy above 80330 targeting 80,700, 81000.Stop Loss: 80000
Sell below 79,730 targeting 79,400, 79,100, and 78,700.Stop Loss: 80000
Short term Chart

Validity

05/02/2025

Pivot

80012.67

Buy Above

80110.59

R1

80245.23

R2

80385.99

R3

80636.91

Stop Loss

80073.87

Pivot

80012.67

(All values are in INR)

Sell Below

79914.75

S1

79780.11

S2

79639.35

S3

79388.43

Stop Loss

80073.87

Natural Gas

Monday 27 January, 2025

Short term - Technical Outlook
Natural gas is trading in an ascending broadening wedge pattern, with the last session closing at 340.5, down by 3 points. It is respecting an ascending channel and recently bounced from a support area, moving toward the higher levels.Technically, a minimum move can be expected above 344.5 and below 336.
Recent news highlights that President Trump's energy policy shift and increased LNG exports could lead to higher demand for natural gas in Europe, potentially supporting prices. However, the withdrawal of 223 Bcf from storage was lower than expected, which has limited bullish sentiment for now. A cold February could revive demand, providing further upward momentum for natural gas prices.
Short term Research Report Call
Buy above 344.5 with targets 352, 361, 365 and stop loss 336.
Sell below 336 with targets 327.5, 319.5, 314 and stop loss 344.5
Short term Chart

Validity

25/02/2025

Pivot

298.17

Buy Above

301.70

R1

306.56

R2

311.65

R3

320.71

Stop Loss

300.38

Pivot

298.17

(All values are in INR)

Sell Below

294.63

S1

289.77

S2

284.69

S3

275.62

Stop Loss

300.38

Silver

Monday 27 January, 2025

Short term - Technical Outlook
Silver is currently trading in a descending channel, with the previous session closing up by 450 points at 91,599. The metal may face resistance near the descending trendline in the 93,000-93,250 range. A decisive move above 93,645 could provide positive momentum for the short term.
Intraday momentum expected above 92,500, and below 91,550. Traders should watch these levels closely for any breakouts or reversals.
Recent news highlights that U.S. interest rate cuts and geopolitical tensions have contributed to upward pressure on silver prices. Additionally, strong industrial demand projections for 2025 may support the metal in the short term, although resistance levels could limit gains for now.
Short term Research Report Call
Buy above 92,450 with targets 93,200, 93,650, 94,220 and stop loss 91,800.
Sell below 91,550 with targets 90,960, 90,250, 89,700 and stop loss 92,200.
Short term Chart

Validity

05/03/2025

Pivot

91506.67

Buy Above

91883.47

R1

92401.57

R2

92943.22

R3

93908.77

Stop Loss

91742.17

Pivot

91506.67

(All values are in INR)

Sell Below

91129.87

S1

90611.77

S2

90070.12

S3

89104.57

Stop Loss

91742.17

Zinc

Monday 27 January, 2025

Short term - Technical Outlook
Zinc is trading within a descending channel on the 3-hour chart and closed at 269, down by 1.75 points. Zinc has attempted a breakdown below 268.3, and a close below this range could lead to further weakness.
Further intraday momentum can be expected above 269.6 or below 268.5
Short term Research Report Call
Buy: Above 269.6 | Targets: 271, 272.4, 273.8 | Stop Loss: 268.5
Sell: Below 268.5 | Targets: 267.5, 265.8, 263 | Stop Loss: 269.6
Short term Chart

Validity

31/01/2025

Pivot

272.18

Buy Above

273.95

R1

276.38

R2

278.92

R3

283.45

Stop Loss

273.29

Pivot

272.18

(All values are in INR)

Sell Below

270.42

S1

267.98

S2

265.44

S3

260.91

Stop Loss

273.29

Note: Above information is not recommending any buy or sell position, this is for your reference only and trading or investment in commodities & derivatives is subject to market risk.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Analyst Certification: I/We, Ayushi Jain Research Analyst, authors, and the name subscribed to this report, hereby certify that all the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. NISM Research Analyst registration number – NISM-201900015194.

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