Daily Commodity Reports

Short term - Technical Outlook

Gold futures are currently trading near the 153,700 zone, showing a recovery from the recent corrective move and continuing to hold above the 153,000 support area. Price has reclaimed the 153,300–153,700 zone and is now testing the upper end of this immediate resistance region. The price is also trading above all key EMAs, indicating that the broader short-term structure has improved and that buyers have regained some control. However, sustained acceptance above 153,800 is still required for a stronger upside move. On the upside, 153,800 is the immediate breakout level, followed by 154,000–154,300. A sustained move above 154,300 could strengthen the bullish recovery and open the way towards 154,800–155,200, with 155,500 as the next major resistance zone.

On the downside, 153,000 now acts as the first important support, followed by 152,600 and then the key 152,000 zone. As long as price remains above 153,000 and the key EMAs continue to provide support, the current recovery structure remains intact. A decisive break below 152,600–153,000 would weaken the bullish setup and could bring 152,000 back into focus.  The RSI is at 50, reflecting balanced momentum with a slight improvement from the previous neutral-bearish reading. Overall, the short-term bias has shifted to neutral-to-slightly bullish. A decisive breakout above 153,800–154,000 would provide stronger confirmation of the next upward leg.

 

Short term Research Report Call

Buy Above: 153,800 | Targets: 154,800, 155,700 | Stop-loss: 153,000

Sell Below: 152,000 | Targets: 151,000, 150,000 | Stop-loss: 153,000

 

Short term Chart

Short term - Technical Outlook

Silver futures are currently trading around the 244,300 zone, continuing to hold near the recent highs after a strong recovery from the 239,000–240,000 area. The latest price action shows consolidation just below the 244,600 resistance, with buyers still maintaining control after the sharp upside move. Price continues to trade above the key EMAs, keeping the broader technical structure firmly constructive. On the upside, 244,600 is the immediate resistance. A sustained breakout above this level could trigger further buying and open the way towards 246,000, followed by the major 248,000 zone. A decisive move above 246,000 would strengthen the bullish setup further and could extend the current rally towards 248,000 and potentially higher levels.

On the downside, 242,000 has now become the key immediate support, followed by the 239,500–239,000 zone. As long as silver holds above 242,000 and remains above its key EMAs, the current bullish structure remains intact. A break below 242,000 could lead to some profit-taking and a retest of 239,500–239,000. A decisive break below 239,000 would weaken the recovery structure and bring 236,200 back into focus. The RSI is now in the mid-60s, indicating strengthening bullish momentum, although it is approaching the higher end of the neutral-to-bullish range and warrants some caution around immediate resistance. Overall, the near-term bias remains bullish. 

 

Short term Research Report Call

Buy Above: 245,000 | Targets: 247,000, 249,000 | Stop-loss: 243,000

Sell Below: 240,000 | Targets: 238,000, 236,000 | Stop-loss: 242,000

 

Short term Chart