Daily Commodity Reports

CRUDEOIL

Friday 16 January, 2026

Technical Outlook – Crude Oil Futures 

Crude Oil Futures have witnessed a sharp impulsive recovery from the 5,010 demand zone, breaking out of the prior falling channel and shifting the short-term structure to bullish. Price has rallied aggressively and is now trading above the key 5,300–5,330 pivot zone, indicating strong buying interest and short covering. The breakout leg has carried prices close to the 5,430 resistance, which previously acted as a major supply area and breakdown level. While momentum remains positive, the near-vertical move suggests the possibility of a short-term consolidation or pullback before any sustained continuation. As long as Crude Oil holds above 5,300 on a closing basis, the bullish bias remains intact, and dips are likely to attract buyers. A decisive breakout above 5,430 would confirm trend continuation and open the door for a move toward higher resistance zones. However, failure to sustain above 5,300 would signal exhaustion of the current rally and could lead to a retracement toward the lower support band near 5,120–5,010. Overall, the structure has shifted to bullish, but follow-through above resistance is required for continuation.

 

Short-Term Research Report Call

Buy Above: 5,430 | Targets: 5,520 – 5,600 | Stop-Loss: 5,300
Sell Below: 5,300 | Targets: 5,120 – 5,010 | Stop-Loss: 5,430



Validity

19/02/2026

Pivot

5381.33

Buy Above

5397.65

R1

5420.09

R2

5443.55

R3

5485.37

Stop Loss

5391.53

Pivot

5381.33

(All values are in INR)

Sell Below

5365.01

S1

5342.57

S2

5319.11

S3

5277.29

Stop Loss

5371.13

GOLD

Friday 16 January, 2026

Technical Outlook – Gold Futures

Gold continues to trade in a strong bullish structure, maintaining a higher high–higher low formation within an upward-sloping channel. Price has successfully broken and sustained above the 140,000 supply zone, which earlier acted as a major resistance and has now turned into a strong demand base. The ongoing consolidation near 143,000–143,300 indicates healthy pause after breakout, not distribution. As long as Gold holds above 140,000, the broader trend remains positively biased. Any dip toward the lower channel support or the 140,000–140,500 zone is likely to attract fresh buying interest. A decisive breakout above 143,500 can accelerate momentum toward 145,000 and higher. Overall structure remains bullish with buy-on-dips preference.

 

Short-Term Research Report Call 

Buy Above: 143,500  Targets: 145,000 – 146,200  Stop-Loss: 142,200

Sell Below: 141,800  Targets: 140,500 ? 139,800  Stop-Loss : 143000

 

Validity

05/02/2026

Pivot

142854.67

Buy Above

143098.35

R1

143433.41

R2

143783.70

R3

144408.13

Stop Loss

143006.97

Pivot

142854.67

(All values are in INR)

Sell Below

142610.99

S1

142275.93

S2

141925.64

S3

141301.21

Stop Loss

142702.37

NATURAL GAS

Friday 16 January, 2026

Technical Outlook – Natural Gas Futures 

Natural Gas Futures continue to trade under a strong bearish structure, remaining inside a well-defined falling channel. Despite minor intraday bounces, price action clearly reflects seller dominance with consistent lower highs and lower lows. The recent recovery attempt has stalled near the 300–305 zone, which aligns with prior breakdown support and now acts as immediate resistance. Failure to sustain above 313 confirms that the bounce is corrective rather than a trend reversal. As long as prices remain below the 320–325 supply zone, downside risk stays elevated. A decisive break below the 280–285 support band would reinforce bearish momentum and could accelerate the decline toward deeper demand zones near 255. Overall, the broader trend remains bearish, and rallies are likely to be used as selling opportunities until price reclaims key resistance levels.

 

 

Short-Term Research Report Call

Buy Above: 320 | Targets: 335 – 350 | Stop-Loss: 300
Sell Below: 280 | Targets: 260 – 255 | Stop-Loss: 300

 

Validity

27/01/2026

Pivot

282.20

Buy Above

285.16

R1

289.23

R2

293.49

R3

301.07

Stop Loss

284.05

Pivot

282.20

(All values are in INR)

Sell Below

279.24

S1

275.17

S2

270.91

S3

263.33

Stop Loss

280.35

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.

Search icon

Turn market moves into money moves

orca apple store
+91

Already a User? Login to Orca

Download Orca
orca play storeorca apple store

Upcoming Webinars

No webinars available

Enrich money logo