Short-Term Technical Outlook
Crude Oil futures are trading near 5,290, showing early signs of bullish recovery after defending the support zone around 5,155. Price is currently testing the 5,303 horizontal resistance as well as the major descending trendline that has controlled the downtrend since October. A decisive breakout above both of these levels would confirm a short-term trend reversal.
If the breakout sustains, the next supply levels lie at 5,433 followed by 5,602, with extended upside potential toward ?5,890.
On the downside, as long as 5,155 holds, buyers remain in control. A breakdown below this zone would invalidate the bullish structure, opening room for a deeper fall back toward 5,010, which is the major swing support.
Short-Term Research Report Call
Buy Above: 5,303 | Targets: 5,380 – 5,433 | Stop-Loss: 5,240
Sell Below: 5,155 | Targets: 5,080 – 5,010 | Stop-Loss: 5,220

18/12/2025
5309.33
Buy Above
5320.53
R1
5335.93
R2
5352.03
R3
5380.73
Stop Loss
5316.33
Pivot
5309.33
(All values are in INR)
Sell Below
5298.13
S1
5282.73
S2
5266.63
S3
5237.93
Stop Loss
5302.33
Short-Term Technical Outlook
Gold futures are trading near 125,500, currently consolidating just below the falling channel resistance. The broader structure shows a corrective downtrend, but price has reclaimed the key horizontal support at 124,407, turning it into a short-term base.
A major supply zone remains active between 126,800–127,400, where sellers previously pushed the market down. Price is now hovering just under this zone, indicating indecision and potential reversal pressure.
A convincing breakout above the channel resistance and the supply zone is required to shift momentum firmly to the upside. Failure to break this area may trigger a retest of 124,407. A breakdown below this level would expose the next support at 120,623.
Short-Term Research Report Call
Buy Above: 126,800 | Targets: 127,800 – 128,500 | Stop-Loss: 125,900
Sell Below: 124,407 | Targets: 123,200 – 121,800 | Stop-Loss: 125,300

05/12/2025
126455.00
Buy Above
126688.92
R1
127010.56
R2
127346.82
R3
127946.24
Stop Loss
126601.20
Pivot
126455.00
(All values are in INR)
Sell Below
126221.08
S1
125899.44
S2
125563.18
S3
124963.76
Stop Loss
126308.80
Short-Term Technical Outlook
Natural Gas futures are trading near 413, moving inside a clear rising channel and now approaching the upper trendline resistance. Price action shows repeated rejections from this upper boundary, indicating seller presence at higher levels.
As long as the structure remains within the channel, dips toward the 400–392 zone are likely to attract buyers. A decisive breakout above the rising channel resistance near 418–422 will signal a continuation of the broader uptrend toward fresh highs.
Conversely, a breakdown below the channel support around 398–392 will weaken the bullish structure, opening a possible corrective leg toward 380.
Short-Term Research Report Call
Buy Above: 418 | Targets: 425 – 432 | Stop-Loss: 409
Sell Below: 398 | Targets: 392 – 385 | Stop-Loss: 406

26/12/2025
422.00
Buy Above
425.22
R1
429.64
R2
434.26
R3
442.50
Stop Loss
424.01
Pivot
422.00
(All values are in INR)
Sell Below
418.78
S1
414.36
S2
409.74
S3
401.50
Stop Loss
419.99
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.
