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
Click here to view PDF
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
Click here to view PDF
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
Click here to view PDF
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
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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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