Daily Commodity Reports

Crude Oil futures are trading near 8,566, with price recovering after the recent pullback from the 8,800 highs and continuing to hold above the key 8,400 support. The broader structure remains bullish, with price trading comfortably above the rising channel’s mid-zone and maintaining a sequence of higher highs and higher lows.The RSI at 60.98 confirms positive momentum, although it has cooled from the overbought zone, indicating some moderation in buying pressure.

Price is currently consolidating in the 8,400–8,800 range, with immediate resistance at 8,650–8,700 followed by the stronger 8,800 level. A sustained close above 8,800 would strengthen the bullish breakout and open the way toward higher levels. On the downside, a close below 8,400 would weaken the structure and invite corrective pressure toward 8,250–8,200. The overall short-term bias remains bullish, as long as price holds above 8,400.

 

Short term Research Report Call

Buy Above: 8,600 | Targets: 8,700, 8,800 | Stop-loss: 8,500

Sell Below: 8,400 | Targets: 8,300, 8,200 | Stop-loss: 8,500

Short term - Technical Outlook

Gold futures have witnessed a sharp corrective move from the 155,000–155,500 zone, falling towards the 152,000 level after facing sustained selling pressure. The index is currently trading near 152,815, with the recent recovery from the 152,000 area losing momentum. The sharp decline has weakened the short-term structure and indicates that sellers remain active at higher levels. On the upside, 153,500–154,100 remains the immediate resistance area. A sustained move above 154,100 could strengthen the recovery and push prices towards 155,100, followed by the 156,000 zone. On the downside, 152,000 remains the key support, and a decisive break below this level could extend the correction towards 151,000.


On the downside, a decisive break below 152,000 could extend the correction towards the next major support near 151,000. Overall, the short-term bias remains cautious to bearish as price continues to trade below the 153,500–154,000 resistance band, with a sustained recovery above 154,100 needed to signal renewed buying strength. The daily RSI is currently at 48, indicating neutral-to-slightly weak momentum and showing that the earlier oversold conditions have eased. Overall, the short-term bias remains cautious to bearish, with a sustained move above 154,100 required to improve the technical setup, while a break below 152,000 could reinforce downside pressure.

 

Short term Research Report Call

Buy Above: 153,800 | Targets: 154,800, 155,700 | Stop-loss: 153,000

Sell Below: 152,000 | Targets: 151,000, 150,000 | Stop-loss: 153,000

 

Short term Chart

Short term - Technical Outlook

Silver futures have witnessed a sharp corrective move, falling from the 242,000–242,500 zone towards the 236,000 level following strong selling pressure. The contract staged a recovery from the lows and moved back towards 238,500, but has since faced selling pressure and is currently trading near 237,500. The price action indicates that sellers remain active at higher levels, keeping the short-term structure cautious.

On the downside, 236,000 remains the immediate support, while a decisive break below this level could extend the correction towards 235,000, followed by the 233,000 zone. Overall, the short-term bias remains cautious to bearish, with a sustained move above 239,000 needed to improve the setup, while a break below 236,000 could reinforce further downside pressure.

 

Short term Research Report Call

Buy Above: 238,500 | Targets: 240,500, 242,500 | Stop-loss: 236,500

Sell Below: 235,500 | Targets: 232,500, 230,500 | Stop-loss: 237,500

 

Short term Chart