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