MCX Gold lose momentum trades below ₹1.50 lakh per 10 gram; Crude oil near key support zone; check today’s trade setup

Market recap (as of 6:15 pm)

• Gold 5 Aug Futures: ₹1,49,915/ 10 gram (▼ 2.5%)
• Silver 3 July Futures: ₹2,38,881/ 1 kg (▼ 5.1%)
• Crude Oil 20 July Futures: ₹7,063/ 1 BBL (▼ 1.3%)

MCX Gold has also weakened after failing to extend the recent recovery. The price has slipped below the ₹1,50,853 support zone and is trading near ₹1,51,000. The price is below the 20-period and 50-period EMAs, suggesting that the short-term momentum has turned weak again. The immediate resistance is now ₹1,50,853–₹152,500, while ₹1,46,444 remains the next important support.

The DMI setup also confirms weakness, while ADX is near 19. This indicates mild bearish pressure, but the trend strength is still moderate.

Silver failed to sustain above the ₹2,47,957 zone and slipped towards ₹2,43,600. The price is now trading below both the 20-period and 50-period EMAs, which weakens the recovery structure. The immediate resistance is now placed at ₹2,47,957. Unless silver moves back above this level, the bias may remain weak. On the downside, ₹2,32,111 remains the key support zone.

The DMI setup has turned negative again, while ADX is near 17. This shows that sellers have a slight edge, but the trend is not very strong yet.

MCX Crude oil remains under pressure and is trading near ₹7,027. The price is still below both the 20-period and 50-period EMAs, showing that the short-term structure remains weak. The immediate support is placed at ₹7,019. Crude is testing this level again, and a sustained move below it can increase downside pressure. On the upside, ₹7,470 is the first key resistance, followed by ₹8,105.

The DMI setup also shows a negative bias, while ADX is near 27. This suggests that sellers still have the upper hand, though the trend strength has cooled from the previous session.

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