Daily Commodity Reports

CRUDEOIL

Thursday 16 April, 2026

Short Term – Technical Outlook

Crude Oil futures are currently trading near 8,642, showing sustained corrective pressure with consistent red candle dominance after failing to sustain above the 8,863 resistance zone. The price has broken below short-term consolidation support and is trading well beneath key overhead supply, confirming seller control and a bearish shift in the near-term structure.

The broader setup remains under distribution pressure following the sharp rejection from higher levels. The current zone near 8,640–8,650 reflects persistent selling interest and limited buyer response, with each attempted bounce being capped by overhead supply. A sustained trade below 8,430 would accelerate downside momentum toward the 8,200 zone and invite deeper corrective pressure.

On the upside, immediate resistance lies near 8,865, followed by stronger overhead supply near 9,100–9,120. A decisive breakout and sustained close above 8,865 would be required to neutralise the current bearish structure and invite a meaningful recovery, though momentum firmly favours sellers at present unless a clear and sustained close above resistance occurs.

 

Short Term Research Report Call

Buy Above: 8,865 | Targets: 9,100, 9,200 | Stop-loss: 8,430

Sell Below: 8,430 | Targets: 8,200, 8,000 | Stop-loss: 8,640

 

 

 

Validity

20/04/2026

Pivot

8589.00

Buy Above

8635.88

R1

8700.34

R2

8767.73

R3

8887.86

Stop Loss

8618.30

Pivot

8589.00

(All values are in INR)

Sell Below

8542.12

S1

8477.66

S2

8410.27

S3

8290.14

Stop Loss

8559.70

GOLD

Thursday 16 April, 2026

Short Term – Technical Outlook

Gold futures are currently trading near 153,998, showing steady bullish momentum with consistent green candle support above the key demand zone near 153,000. The price has held firmly within the ascending recovery structure, reflecting strong buyer participation and continued upside intent as price approaches the critical overhead resistance near 155,000–156,000.

The broader structure remains constructively bullish on the short-term timeframe, with sustained closes above the 152,500–153,000 support band and building momentum following the recovery from recent lows. The current zone near 153,500–154,000 displays buyer dominance with reduced volatility, indicating accumulation ahead of a breakout attempt. A decisive breakout and sustained close above 155,000 could confirm renewed bullish momentum and open the path toward 156,500 and 158,000.

On the downside, immediate support lies near 153,000, followed by stronger structural demand near 152,000. A breakdown below 153,000 may invite short-term corrective pressure toward 151,500–150,000, though the prevailing bullish momentum strongly favours buyers on dips unless a sustained close below support materialises.

 

Short Term Research Report Call

Buy Above: 155,000 | Targets: 156,500, 158,000 | Stop-loss: 153,000

Sell Below: 153,000 | Targets: 151,500, 150,000 | Stop-loss: 155,000

 

 

Validity

05/06/2026

Pivot

154192.00

Buy Above

154432.32

R1

154762.76

R2

155108.22

R3

155724.04

Stop Loss

154342.20

Pivot

154192.00

(All values are in INR)

Sell Below

153951.68

S1

153621.24

S2

153275.78

S3

152659.96

Stop Loss

154041.80

NATURALGAS

Thursday 16 April, 2026

Short Term – Technical Outlook

Natural Gas futures are currently trading near 245, showing mild sideways consolidation with small candles forming below the 248–250 resistance band. The price has been unable to reclaim the 248 zone despite brief intraday recovery attempts, confirming continued seller aggression and a bearish bias in the near-term structure following the extended decline from higher levels.

The broader structure remains under bearish pressure with a series of lower highs and lower lows dominating the recent sessions. The sustained weakness below 250 has been accompanied by red candle dominance and consistently reduced buyer follow-through. A sustained trade below 240 could accelerate downside momentum toward the 237–234 zone or lower extension levels.

On the upside, immediate resistance lies near 250, followed by stronger supply at 252–255. A breakout and sustained close above 250 would be required to invalidate the current bearish bias and signal a short-term recovery, though momentum strongly favours sellers on any rally at present.

 

Short Term Research Report Call

Buy Above: 250 | Targets: 252, 255 | Stop-loss: 240

Sell Below: 240 | Targets: 237, 234 | Stop-loss: 245

 

 

Validity

27/04/2026

Pivot

244.40

Buy Above

245.14

R1

246.15

R2

247.21

R3

249.09

Stop Loss

244.86

Pivot

244.40

(All values are in INR)

Sell Below

243.66

S1

242.65

S2

241.59

S3

239.71

Stop Loss

243.94

SILVER

Thursday 16 April, 2026

Short Term – Technical Outlook

Silver Futures are currently trading near 251,500, showing constructive bullish structure with recent sessions holding firmly above the key demand zone near 248,500–249,000. The price has staged a strong recovery from lower levels and is consolidating just below the immediate overhead resistance near 254,000, reflecting buyer conviction and building upside momentum.

The broader structure has turned positively biased on the short-term timeframe, with price sustaining above the 249,000 support base and higher closes confirming continued buyer participation. The current zone near 251,000–252,000 shows consolidation with reduced selling pressure, indicating absorption ahead of a potential breakout. A decisive breakout and sustained close above 254,000 could confirm fresh bullish momentum and open the path toward 256,000 and 258,000.

On the downside, immediate support lies near 249,000, followed by stronger structural demand near 246,500. A breakdown below 249,000 would invite short-term corrective pressure toward 246,500, though the prevailing bullish recovery strongly favours buyers on dips unless a clear and sustained reversal occurs.

 

Short Term Research Report Call

Buy Above: 254,000 | Targets: 256,000, 258,000 | Stop-loss: 249,000

Sell Below: 249,000 | Targets: 246,500, 244,000 | Stop-loss: 252,000

 

 

Validity

05/05/2026

Pivot

252026.33

Buy Above

253129.85

R1

254647.19

R2

256233.50

R3

259061.27

Stop Loss

252716.03

Pivot

252026.33

(All values are in INR)

Sell Below

250922.81

S1

249405.47

S2

247819.16

S3

244991.39

Stop Loss

251336.63

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.

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