CRUDEOIL
Monday 9 February, 2026
Technical Outlook – Crude Oil Futures
Crude Oil Futures continue to trade within a well-defined ascending channel, maintaining a structurally bullish bias despite recent volatility. The sharp impulsive rally from the 5010 swing base confirmed strong demand absorption, followed by a healthy corrective pullback. Price is currently consolidating near the 5790–5890 supply-demand pivot, which also aligns with the mid-channel region. This consolidation indicates pause after expansion, not distribution. As long as the price sustains above 5602, the broader trend structure remains intact, and dips are likely to attract buying interest. A decisive acceptance above 5890 would open the path for a retest of the 6031 supply zone.Overall bias: Bullish above 5602, corrective only below it.
Short-Term Research Report Call
Buy Above: 5890 Targets: 6031 – 6150 – 6250 Stop-Loss: 5602
Sell Below: 5602 Targets: 5433 – 5303 – 5101 Stop-Loss: 5890
Click here to view PDF
Validity
19/02/2026
Pivot
5779.67
Buy Above
5814.71
R1
5862.89
R2
5913.26
R3
6003.05
Stop Loss
5801.57
Pivot
5779.67
(All values are in INR)
Sell Below
5744.63
S1
5696.45
S2
5646.08
S3
5556.29
Stop Loss
5757.77
GOLD
Monday 9 February, 2026
Technical Outlook – Gold Futures (4H)
Gold Futures are currently consolidating after a sharp corrective sell-off from the 175,800–176,000 supply zone, which marked a clear bullish exhaustion and profit-booking phase. The breakdown from 166,400 and 159,500 shifted short-term structure into lower highs, but price has now stabilized above the 151,900–152,000 demand pivot, indicating absorption of selling pressure. Recent candles show range-bound price action with mild bullish bias, suggesting a base-building process rather than impulsive upside. As long as price holds above 151,900, the structure favors a gradual recovery, while failure below this level may reopen deeper demand zones.Overall bias: Neutral-to-bullish above 151,900 | Weak below 150,000.
Short-Term Research Report Call
Buy Above: 152,200 Targets: 155,000 – 159,500 – 166,400 Stop-Loss: 149,900
Sell Below: 149,800 Targets: 145,000 – 140,000 – 133,500 Stop-Loss: 152,300
Click here to view PDF
Validity
02/04/2026
Pivot
153534.33
Buy Above
154551.93
R1
155951.13
R2
157413.93
R3
160021.53
Stop Loss
154170.33
Pivot
153534.33
(All values are in INR)
Sell Below
152516.73
S1
151117.53
S2
149654.73
S3
147047.13
Stop Loss
152898.33
NATURALGAS
Monday 9 February, 2026
Technical Outlook – Natural Gas Futures
Natural Gas Futures remain in a corrective-to-bearish structure after the sharp impulsive rally failed to sustain above the 420–430 supply zone. The recent breakdown from 350–360 confirms supply dominance and long unwinding, pushing price back into the lower value area. Current price is hovering near 316–320, which is a minor demand / balance zone, but structure still shows lower highs and weak follow-through buying. Unless price reclaims 333–340 decisively, the move looks more like a dead-cat bounce rather than trend reversal. Broader bias stays weak below 350.Overall bias: Range-to-bearish below 350, recovery only above 370.
Short-Term Research Report Call
Buy Above: 333 Targets: 350 – 372 – 418 Stop-Loss: 300
Sell Below: 313 Targets: 300 – 280 – 255 Stop-Loss: 333
Click here to view PDF
Validity
24/02/2026
Pivot
321.73
Buy Above
324.90
R1
329.26
R2
333.81
R3
341.93
Stop Loss
323.71
Pivot
321.73
(All values are in INR)
Sell Below
318.57
S1
314.21
S2
309.66
S3
301.54
Stop Loss
319.75
SILVER
Monday 9 February, 2026
Technical Outlook – Silver Futures
Silver Futures remain in a corrective phase after a sharp distribution-led sell-off from the 408,700 supply zone, which confirmed a major trend exhaustion at higher levels. The breakdown below the rising channel support and 364,000 structure level accelerated bearish momentum, dragging price swiftly toward the 240,000–245,000 higher-timeframe demand zone. This zone has acted as a strong demand base, where selling pressure has been absorbed and price is now stabilizing with minor higher lows, indicating short-term base formation. However, the broader structure is still range-to-bearish, and upside attempts are likely to face supply unless key resistance levels are reclaimed decisively.Overall bias: Neutral with bullish pullback potential above 240,000 | Bearish below 232,000.
Short-Term Research Report Call
Buy Above: 252,000 Targets: 266,500 – 284,700 – 292,200 Stop-Loss: 238,500
Sell Below: 232,000 Targets: 224,000 – 215,000 – 205,000 Stop-Loss: 248,000
Click here to view PDF
Validity
05/03/2026
Pivot
243455.67
Buy Above
246991.83
R1
251854.05
R2
256937.28
R3
265998.69
Stop Loss
245665.77
Pivot
243455.67
(All values are in INR)
Sell Below
239919.51
S1
235057.29
S2
229974.06
S3
220912.65
Stop Loss
241245.57
Market Commentary
View All
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.
Turn market moves into money moves
Already a User? Login to Orca
Upcoming Webinars
View All
No webinars available
