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  5. MCX Gold trade lower around ₹1.50 lakh per 10 gram, MCX Crude oil holds above ₹9,000; check today’s trade setup

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MCX Gold trade lower around ₹1.50 lakh per 10 gram, MCX Crude oil holds above ₹9,000; check today’s trade setup

Upstox
By Upstox News Desk

3 min read | Updated on September 24, 2026, 13:52 IST

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SUMMARY

MCX Crude Oil is showing signs of recovery after reclaiming its key hourly averages, but ₹9,076 remains the important breakout level. Silver continues to trade below its moving averages, with sellers retaining control, while Gold shows the strongest bearish momentum, with ₹1,49,665 emerging as the key support.

MCX_Gold_rate

MCX Crude Oil has staged a recovery from the recent lows and is now trading above 20 EMA and 50 EMA.

Market recap (as of 1:30 pm)

  • Gold 5 Oct Futures: ₹1,50,960/ 10 gram (▼ 0.2%)
  • Silver 4 Dec Futures: ₹2,34,651/ 1 kg (▼ 0.5%)
  • Crude Oil 19 Oct Futures: ₹9,072/ 1 BBL (▲ 2.0%)
Gold: The yellow metal is trading marginally lower in the international market as Gold spot prices traded around $4,318 per ounce, down 0.03%. Meanwhile, Silver traded 0.5% lower at $64.7 per ounce in the US markets. Gold prices are trading in a range as higher oil prices, a firm US dollar and rising Treasury yields keeping pressure on bullion as markets continued to assess the prospect of further Federal Reserve rate hikes.
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Crude oil: International crude oil prices are trading higher, with Brent Futures trading around $104 per barrel, up 1.4%, while WTI Crude traded 1.2% higher, around $93.3. Oil prices extended gains after rising 4% in the previous session as diplomatic talks between the United States and Iran showed no concrete sign of progress.

Technical outlook

MCX Gold continues to weaken and is trading around ₹1,51,025, below the 20 EMA and the 50 EMA . Momentum remains decisively bearish, as the ADX has climbed to 40.68, indicating a strong underlying trend. Immediate support is placed at ₹1,49,665, while the moving average zone remains the first hurdle on any rebound.

GOLD-05OCT26-FUT_2026-09-24_11-55-34.webp

Silver remains under pressure at ₹2,34,841, trading below the hourly 20 EMA and the 50 EMA. The bearish structure is supported by the ADX at 29.83, indicating reasonable trend strength. The immediate resistance zone lies around the two moving averages, while ₹2,29,751 remains the major downside support.

SILVER-04DEC26-FUT_2026-09-24_11-58-50.webp

MCX Crude Oil has staged a recovery from the recent lows and is now trading at ₹8,882, above both the 20 EMA and 50 EMA. The positive DMI has also improved, although ADX at 19.93 suggests the trend is still developing. Immediate resistance is placed at ₹9,076, followed by ₹9,384, while ₹8,478 remains the major support.

CRUDEOIL-19OCT26-FUT_2026-09-24_11-59-42.webp
Technical note: The 20-EMA reflects short-term price momentum, while the 50-EMA indicates the broader hourly trend. Price above both averages, particularly when the 20-EMA is above the 50-EMA, supports a positive structure; the reverse indicates a negative structure. In the DMI, +DI above -DI signals positive directional pressure, while -DI above +DI signals negative pressure. ADX measures trend strength rather than direction: readings below 20 generally indicate a weak or range-bound market, 20–25 suggest an emerging trend, and readings above 25 indicate a stronger trend. These indicators should be interpreted together with the stated support, resistance and confirmation levels.

Disclaimer:

Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for the client's consumption, and such material should not be redistributed. We do not recommend any particular stock, securities, or strategies for trading. The securities quoted are exemplary and are not recommendatory. The stock names mentioned in this article are purely to show how to do analysis. Take your own decision before investing.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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