Daily Commodity Reports

CRUDEOIL

Tuesday 21 July, 2026

Short term - Technical Outlook

Crude Oil futures are currently trading near 8,000, showing a mild positive candle after opening at 7,923 and edging higher toward the session high of 8,015. The price has recovered sharply from the prior session's rejection from the 8,100 zone and is now attempting to consolidate above the 7,930–8,000 support band. The current candle reflects renewed buyer interest following the pullback, with price attempting to hold the gains of the recent rally.

The broader structure remains bullish, with a clear sequence of higher lows established over the recent sessions and price trading well above the prior consolidation base near 7,560. The sharp rally to the 8,100–8,215 zone has established a new short-term reference high, and the current pullback and consolidation above 7,935 preserves the bullish structure. A sustained close above 8,215 would confirm breakout continuation and invite upside extension toward 8,260 and beyond, while the 7,935–7,800 zone represents the critical support band that buyers need to defend to maintain the current bullish structure.

On the downside, immediate support lies near 7,935–7,800, followed by stronger structural demand at 7,560. A breakdown below 7,800 would signal a more meaningful corrective phase and invite pressure toward lower support levels, though the prevailing momentum continues to favour buyers on any dip while price holds above the 7,935 zone.

 

Short term Research Report Call

Buy Above: 8,215 | Targets: 8,260, 8,305 | Stop-loss: 8,170

Sell Below: 7,935 | Targets: 7,890, 7,845 | Stop-loss: 7,980

 

Validity

19/08/2026

Pivot

7938.00

CRUDEOIL commodity live levels. All values are in INR.
SignalTrigger levelTargetsStop loss
Target 1Target 2Target 3
Buy AboveBullish buy signal8010.16R18109.38R28213.11R38398.02Stop Loss7983.10
Pivot7938.00(All values are in INR)
Sell BelowBearish sell signal7865.84S17766.62S27662.89S37477.98Stop Loss7892.90

GOLD

Tuesday 21 July, 2026

Short term - Technical Outlook

Gold futures are currently trading near 141,400, showing mild bearish pressure with a small red candle after opening at 141,700 and failing to hold above the opening level. The price has been oscillating within a compressed range between 139,930 and 142,400, with the recent sessions displaying small-bodied candles and indecisive price action reflecting a lack of clear directional momentum. The current candle signals continued seller presence near the upper boundary of this consolidation zone.

The broader structure remains under bearish pressure, with price trading below the key overhead resistance at 141,860–142,400 and the sequence of lower highs from the recent peak maintaining structural downside bias. The consolidation near 141,000–141,700 reflects a balancing phase rather than a reversal, with neither buyers nor sellers establishing decisive control. A sustained close above 142,400 would be the first credible signal of a short-term trend shift and open the path toward 143,900 and higher, while continued trade below 141,030 would expose the 139,930 structural floor.

On the downside, immediate support lies near 141,030–140,480, followed by deeper structural demand at 139,930. A clear break below 141,030 would confirm renewed bearish momentum and invite extension toward lower levels, though buyers have shown intermittent willingness to defend the 140,500–141,000 zone in recent sessions.

 

Short term Research Report Call

Buy Above: 142,400 | Targets: 143,900, 145,400 | Stop-loss: 140,900

Sell Below: 141,030 | Targets: 139,530, 138,030 | Stop-loss: 142,530

 

 

Validity

05/08/2026

Pivot

141585.33

GOLD commodity live levels. All values are in INR.
SignalTrigger levelTargetsStop loss
Target 1Target 2Target 3
Buy AboveBullish buy signal141778.29R1142043.61R2142320.99R3142815.45Stop Loss141705.93
Pivot141585.33(All values are in INR)
Sell BelowBearish sell signal141392.37S1141127.05S2140849.67S3140355.21Stop Loss141464.73

NATURALGAS

Tuesday 21 July, 2026

Short term - Technical Outlook

Natural Gas futures are currently trading near 274.4, showing mild bearish pressure with a small red candle after opening at 275.2 and failing to sustain above the opening level. The price has been trading in a choppy, range-bound manner between 273 and 283 over the recent sessions, with alternating green and red candles reflecting indecision and a lack of sustained directional momentum. The current candle maintains the bearish undertone near the lower end of this consolidation range.

The broader structure remains bearish following the sharp breakdown from higher levels, with price continuing to trade below the key overhead resistance at 276–279. Each attempt to recover above 276 has been met with renewed selling, and the current session again reflects this pattern with an early rejection from the 275–276 zone. A sustained close above 279 would be required to neutralise the current bearish bias and invite a corrective move toward 281–283, though sellers retain the structural advantage while price remains capped below 276.

On the downside, immediate support lies near 272.9–270, followed by deeper structural demand below. A clear break below 273 would confirm continuation of the bearish pressure and invite extension toward 271 and lower levels, though the range-bound nature of recent sessions suggests price may continue to oscillate between 273 and 279 near term.

 

Short term Research Report Call

Buy Above: 279 | Targets: 281, 283 | Stop-loss: 277

Sell Below: 273 | Targets: 271, 269 | Stop-loss: 275

 

 

Validity

28/07/2026

Pivot

276.13

NATURALGAS commodity live levels. All values are in INR.
SignalTrigger levelTargetsStop loss
Target 1Target 2Target 3
Buy AboveBullish buy signal277.13R1278.49R2279.92R3282.46Stop Loss276.75
Pivot276.13(All values are in INR)
Sell BelowBearish sell signal275.14S1273.78S2272.35S3269.81Stop Loss275.51

SILVER

Tuesday 21 July, 2026

Short term - Technical Outlook

Silver Futures are currently trading near 218,150, showing bearish pressure with a red candle after opening at 219,240 and pulling back from the session high of 219,420. The price has been declining steadily within the recent range, with the prior session's attempted recovery from the 215,000–216,230 zone failing to sustain above 220,000, leaving a bearish structure of lower highs intact. The current candle reflects continued seller dominance and limited buyer conviction near current levels.

The broader structure remains firmly bearish, with price trading below the key resistance cluster at 220,330–222,420 and unable to reclaim these levels on any recovery attempt. The recent bounce from the 214,000–216,230 demand zone has been modest, with the overhead supply consistently capping upside momentum. A sustained close above 222,420 would signal a meaningful shift in near-term structure and invite fresh buying interest toward 224,920 and higher, though momentum continues to firmly favour sellers at present.

On the downside, immediate support lies near 216,230–213,890, followed by deeper structural demand below. A clear break below 216,230 would confirm continuation of the bearish trend and expose the 213,730 level and lower extension zones, though the demand zone between 213,890 and 216,230 has provided intermittent support in recent sessions.

 

Short term Research Report Call

Buy Above: 222,420 | Targets: 224,920, 227,420 | Stop-loss: 219,920

Sell Below: 216,230 | Targets: 213,730, 211,230 | Stop-loss: 218,730

 

 

Validity

04/09/2026

Pivot

218870.67

SILVER commodity live levels. All values are in INR.
SignalTrigger levelTargetsStop loss
Target 1Target 2Target 3
Buy AboveBullish buy signal219287.31R1219860.19R2220459.11R3221526.75Stop Loss219131.07
Pivot218870.67(All values are in INR)
Sell BelowBearish sell signal218454.03S1217881.15S2217282.23S3216214.59Stop Loss218610.27

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.