Daily Commodity Reports

CRUDEOIL

Wednesday 24 December, 2025

Technical Outlook – Crude Oil Futures 
Crude Oil Futures remain in a broader consolidation phase after breaking down from the earlier rising trendline, indicating a loss of bullish momentum and a shift into range-bound price action. The recent rebound from the lower demand zone near 5,140–5,100 suggests short-covering activity rather than fresh bullish strength, as price continues to face supply pressure near the 5,380–5,420 region, which aligns with the prior range midpoint and breakdown area. As long as Crude Oil trades below this resistance zone, upside attempts are likely to remain capped, keeping the overall bias neutral to mildly bearish. On the downside, 5,140 remains a critical support, and a decisive breakdown below this level could accelerate selling pressure toward 5,000, followed by 4,900. A sustained move above 5,420 would be required to shift the structure back in favor of buyers and open the door for a recovery toward 5,600. Until such confirmation emerges, price is expected to oscillate within the broader range, with sellers maintaining control near resistance.

 

 

Short-Term Research Report Call
Buy Above: 5,420 | Targets: 5,550 – 5,600 | Stop-Loss: 5,320
Sell Below: 5,140 | Targets: 5,020 – 4,900 | Stop-Loss: 5,260

 

Validity

18/12/2025

Pivot

5223.67

Buy Above

5235.99

R1

5252.93

R2

5270.64

R3

5302.21

Stop Loss

5231.37

Pivot

5223.67

(All values are in INR)

Sell Below

5211.35

S1

5194.41

S2

5176.70

S3

5145.13

Stop Loss

5215.97

GOLD

Wednesday 24 December, 2025

Technical Outlook – Gold Futures 


Gold Futures continue to trade within a well-defined rising channel, reflecting a strong and sustained bullish structure on the medium-term timeframe. Price action remains firmly above key ascending support, indicating consistent buying interest on dips. The recent breakout toward 137,900 confirms bullish continuation, with momentum favoring further upside as long as the channel structure remains intact. The zone around 135,800–136,200 now acts as immediate support and any pullback into this region is likely to attract fresh buying interest. On the upside, a sustained hold above 138,000 could accelerate the rally toward 140,000 and 142,000. The broader trend remains decisively positive, and only a breakdown below 135,500 would weaken the current bullish bias and open room for a deeper corrective move.

 

Short-Term Research Report Call
Buy Above: 138,000 | Targets: 140,000 – 142,000 | Stop-Loss: 136,200
Sell Below: 135,500 | Targets: 133,800 – 132,200 | Stop-Loss: 137,200

 

Validity

05/02/2026

Pivot

133720.00

Buy Above

134198.08

R1

134855.44

R2

135542.68

R3

136767.76

Stop Loss

134018.80

Pivot

133720.00

(All values are in INR)

Sell Below

133241.92

S1

132584.56

S2

131897.32

S3

130672.24

Stop Loss

133421.20

NATURAL GAS

Wednesday 24 December, 2025

Technical Outlook – Natural Gas Futures 
Natural Gas Futures are attempting a short-term recovery after forming a base near the 334–340 demand zone, which has acted as a strong medium-term support. The recent sharp rebound indicates short-covering from oversold levels; however, the broader structure remains corrective as prices are still trading below the broken rising channel and the key supply zone around 392–400. This zone is a major decision area, as it previously acted as strong support and has now turned into resistance. As long as Natural Gas remains below 392, the upside is likely to face selling pressure, keeping the broader bias neutral-to-bearish. A sustained breakout above ?400 would confirm trend reversal and open the path for a recovery toward 420 and 440. Conversely, failure to hold above 360 could reintroduce downside pressure, dragging prices back toward 340 and 325.

 

 

Short-Term Research Report Call
Buy Above: 400 | Targets: 420 – 440 | Stop-Loss: 388
Sell Below: 360 | Targets: 345 – 325 | Stop-Loss:  372

 

 

Validity

26/12/2025

Pivot

377.27

Buy Above

380.00

R1

383.76

R2

387.70

R3

394.71

Stop Loss

378.98

Pivot

377.27

(All values are in INR)

Sell Below

374.53

S1

370.77

S2

366.84

S3

359.82

Stop Loss

375.56

Market Commentary

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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