Daily Commodity Reports

CRUDEOIL

Thursday 30 April, 2026

Short Term – Technical Outlook

Crude Oil futures are currently trading near 10,110, showing strong bullish momentum with a prominent green candle extending the sustained recovery rally from the corrective lows near 7,700. The price has reclaimed the key 10,000 level decisively and is now approaching the overhead resistance band near 10,245, with buyer conviction firmly established and momentum continuing to favour the upside following the strong multi-session advance.

The broader structure remains firmly bullish, with the price printing consistent higher highs and higher lows from the corrective base and the ascending trendline continuing to provide dynamic support on pullbacks. The current zone near 10,000–10,150 reflects strong buyer control and building upside momentum. A sustained trade above 10,245 would confirm the continuation of the bullish advance and invite upside momentum toward 10,295 and 10,345, extending the rally toward the prior highs near 10,800.

On the downside, immediate support lies near 9,875, followed by stronger structural demand near 9,600. A breakdown below 9,875 may invite a brief corrective phase toward lower support levels, though the dominant near-term bias firmly favours buyers on dips as long as price holds above key structural support.

 

Short Term Research Report Call

Buy Above: 10,245 | Targets: 10,295, 10,345 | Stop-loss: 10,195

Sell Below: 9,875 | Targets: 9,825, 9,775 | Stop-loss: 9,925

 

 

Validity

18/05/2026

Pivot

8938.67

Buy Above

9018.51

R1

9128.29

R2

9243.06

R3

9447.65

Stop Loss

8988.57

Pivot

8938.67

(All values are in INR)

Sell Below

8858.83

S1

8749.05

S2

8634.28

S3

8429.69

Stop Loss

8888.77

GOLD

Thursday 30 April, 2026

Short Term – Technical Outlook

Gold futures are currently trading near 149,144, showing a mild green candle attempting to stabilise near the lower structural support zone following the extended multi-session decline from the highs near 155,000. Despite today's tentative bounce, the price continues to face significant overhead resistance near 150,500–152,000 and has been unable to build meaningful upside momentum, with sellers maintaining consistent control at higher levels and the near-term structure remaining under sustained distribution pressure.

The broader near-term bias remains firmly bearish, with the price trading below the key resistance band and each attempted recovery being decisively capped by overhead supply. The current zone near 148,500–149,500 represents a critical near-term support area, with the price at risk of further downside if buyers fail to defend current levels. A sustained trade below 148,000 would confirm renewed bearish momentum and invite downside pressure toward 146,500 and 145,000.

On the upside, a decisive breakout and sustained close above 150,500 would be required to shift the near-term bias constructively and neutralise the current distribution pattern, though the prevailing structure firmly favours sellers near resistance unless a clear and sustained close above the overhead supply band materialises.

 

Short Term Research Report Call

Buy Above: 150,500 | Targets: 152,000, 153,500 | Stop-loss: 149,000

Sell Below: 148,000 | Targets: 146,500, 145,000 | Stop-loss: 149,500

 

 

Validity

05/06/2026

Pivot

152204.33

Buy Above

152590.57

R1

153121.65

R2

153676.87

R3

154666.61

Stop Loss

152445.73

Pivot

152204.33

(All values are in INR)

Sell Below

151818.09

S1

151287.01

S2

150731.79

S3

149742.05

Stop Loss

151962.93

NATURALGAS

Thursday 30 April, 2026

Short Term – Technical Outlook

Natural Gas futures are currently trading near 252, showing mild consolidation with a small red candle holding above the key structural support zone near 250 following the strong recovery from the multi-week lows near 237. Despite today's minor pause, the price continues to sustain above critical demand levels and the broader recovery structure remains intact, with buyers defending pullbacks and the near-term bias favouring continuation of the upside move.

The broader structure remains constructively bullish, with the price recovering strongly from the corrective lows and continuing to hold above the 250 structural demand zone. The current consolidation near 251–253 reflects orderly digestion within the broader recovery trend, with momentum favouring buyers on any dip toward support. A sustained trade above 254.5 would confirm the continuation of the bullish recovery and invite upside momentum toward 256.5 and 258.5, extending the advance toward the prior resistance band.

On the downside, immediate support lies near 250, followed by stronger structural demand near 247. A breakdown below 250 would delay the recovery and signal a deeper corrective phase toward lower support, though the prevailing bullish structure strongly favours buyers on dips as long as price holds above the key 250 demand zone.

 

Short Term Research Report Call

Buy Above: 254.5 | Targets: 256.5, 258.5 | Stop-loss: 252.5

Sell Below: 250 | Targets: 248, 246 | Stop-loss: 252

 

 

Validity

26/05/2026

Pivot

255.73

Buy Above

257.05

R1

258.85

R2

260.74

R3

264.10

Stop Loss

256.55

Pivot

255.73

(All values are in INR)

Sell Below

254.42

S1

252.62

S2

250.73

S3

247.37

Stop Loss

254.91

SILVER

Thursday 30 April, 2026

Short Term – Technical Outlook

Silver Futures are currently trading near 238,101, showing a tentative green candle attempting to stabilise following the sustained multi-session decline from the highs near 261,000. Despite today's minor bounce, the price continues to trade well below significant overhead resistance and the near-term structure reflects persistent seller dominance, with each attempted recovery being capped by renewed supply and limited genuine buyer conviction near current levels.

The broader near-term structure remains firmly bearish, with the price printing a clear series of lower highs and lower lows from the 261,000 peak and the current zone near 237,500–239,000 representing a critical support juncture following the extended decline. The sustained weakness below the 241,500 resistance band confirms seller control and limits recovery potential. A decisive breakdown below 235,500 would confirm renewed bearish momentum and invite corrective extension toward 233,500 and 231,500.

On the upside, a sustained breakout above 241,500 would be required to neutralise the near-term bearish bias and invite a meaningful short-term relief bounce, though the prevailing structure firmly favours sellers unless a decisive and sustained close above the overhead supply zone occurs.

 

Short Term Research Report Call

Buy Above: 241,500 | Targets: 243,500, 245,500 | Stop-loss: 239,500

Sell Below: 235,500 | Targets: 233,500, 231,500 | Stop-loss: 237,500

 

 

Validity

05/05/2026

Pivot

242827.33

Buy Above

243989.57

R1

245587.65

R2

247258.37

R3

250236.61

Stop Loss

243553.73

Pivot

242827.33

(All values are in INR)

Sell Below

241665.09

S1

240067.01

S2

238396.29

S3

235418.05

Stop Loss

242100.93

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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