CRUDEOIL
Friday 20 February, 2026
Technical Outlook – Crude Oil
Crude Oil has delivered a strong upside recovery from the 5600 support base and is now testing the major resistance zone near 6030. The broader structure still reflects higher highs and higher lows within an ascending channel, and price has reclaimed 5890 decisively. However, 6030 remains a critical supply barrier; a clean breakout above this level can trigger fresh momentum toward the upper channel extension. Failure to sustain above 5890 after this retest could result in a pullback toward 5600. Overall bias remains bullish above 5890, but breakout confirmation above 6030 is crucial for continuation.
Short-Term Research Report Call
Buy Above: 6040 Target: 6200 / 6350 Stop-Loss: 5920
Sell Below: 5880 Target: 5600 / 5430 Stop-Loss: 6000
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Validity
19/02/2026
Pivot
5691.33
Buy Above
5724.29
R1
5769.61
R2
5816.99
R3
5901.45
Stop Loss
5711.93
Pivot
5691.33
(All values are in INR)
Sell Below
5658.37
S1
5613.05
S2
5565.67
S3
5481.21
Stop Loss
5670.73
GOLD
Friday 20 February, 2026
Technical Outlook – Gold
Gold remains trapped inside a broad consolidation band between 159464 resistance and 151960 support. The contract has repeatedly failed to sustain above 159464, forming short-term lower highs, while 151960 continues to act as a strong demand base. Current price action around 154700 reflects range-bound movement with no decisive breakout yet. A sustained move above 159464 would shift momentum bullish toward 166437, whereas a breakdown below 151960 could trigger fresh downside pressure toward the 145000–140000 demand zone. Until a breakout occurs, bias remains sideways with a slight negative tilt below 159464.
Short-Term Research Report Call
Buy Above: 159500 Target: 166400 / 175800 Stop-Loss: 154000
Sell Below: 151900 Target: 145000 / 140000 Stop-Loss: 156000
Click here to view PDF
Validity
02/04/2026
Pivot
152035.67
Buy Above
152552.31
R1
153262.69
R2
154005.36
R3
155329.25
Stop Loss
152358.57
Pivot
152035.67
(All values are in INR)
Sell Below
151519.03
S1
150808.65
S2
150065.98
S3
148742.09
Stop Loss
151712.77
NATURALGAS
Friday 20 February, 2026
Technical Outlook – Natural Gas
Natural Gas continues to trade under a dominant descending trendline, maintaining a clear lower high–lower low structure. The recent bounce from the 270 zone failed to break above 313 resistance, and price is now hovering just below the 280 pivot band. This area is acting as immediate supply after repeated rejections. As long as the contract sustains below the falling trendline and 313 resistance, the broader bias remains bearish. A decisive breakdown below 270 can extend the decline toward the 255 demand base, while only a strong breakout above 313 would signal structural reversal and short covering.
Short-Term Research Report Call
Buy Above: 314 Target: 330 / 350 Stop-Loss: 295
Sell Below: 270 Target: 255 / 240 Stop-Loss: 285
Click here to view PDF
Validity
24/02/2026
Pivot
279.13
Buy Above
281.36
R1
284.42
R2
287.61
R3
293.31
Stop Loss
280.52
Pivot
279.13
(All values are in INR)
Sell Below
276.91
S1
273.85
S2
270.65
S3
264.96
Stop Loss
277.74
SILVER
Friday 20 February, 2026
Technical Outlook – Silver
Silver continues to trade under a dominant descending trendline, maintaining a broader lower high structure after rejection from the 284700 zone. Price recently bounced from the 228000–230000 demand base and is now hovering around 241400, attempting a recovery within a corrective pullback. However, the 266600–268000 resistance band remains a critical supply area. Unless price decisively breaks and sustains above this zone, the broader bias remains bearish. Immediate support is placed around 236000; a breakdown below this area can re-open downside toward the deeper 225000 demand cluster. Trend remains weak below the falling trendline.
Short-Term Research Report Call
Buy Above: 268000 Target: 284700 / 292200 Stop-Loss: 258000
Sell Below: 236000 Target: 225000 / 210000 Stop-Loss: 248000
Click here to view PDF
Validity
05/03/2026
Pivot
230859.67
Buy Above
232722.71
R1
235284.39
R2
237962.51
R3
242736.55
Stop Loss
232024.07
Pivot
230859.67
(All values are in INR)
Sell Below
228996.63
S1
226434.95
S2
223756.83
S3
218982.79
Stop Loss
229695.27
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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