MCX Gold trades around ₹1.50 lakh per 10 gram, MCX Crude Oil stays weak; Check today’s trade setup

Market recap (as of 2:00 pm)

• Gold 4 Dec Futures: ₹1,50,751/ 10 gram (▲ 1.3%)
• Silver 4 Dec Futures: ₹2,27,000/ 1 kg (▲ 0.6%)
• Crude Oil 19 Oct Futures: ₹8,594/ 1 BBL (▼ 0.9%)

Technical outlook

MCX Gold 5 October futures has recovered above its hourly 20 EMA at but remains below the 50 EMA. The ADX reading of 23.46 suggests modest trend strength, indicating improving buying momentum. The near-term structure therefore points to a recovery within the preceding decline. A sustained move above ₹1,48,092 would strengthen the recovery and bring the marked resistance at ₹1,49,665 into focus. Failure to hold the 20 EMA could shift attention towards the recent ₹1,46,000 area, followed by the support at ₹1,45,274.

MCX Silver 4 December futures is trading above its hourly 20 EMA but below the 50 EMA. Although, the ADX reading of 16.92 indicates that the recovery lacks a strong trend. Silver’s near-term bias has improved, but the broader hourly structure remains vulnerable below the 50 EMA. Sustaining above ₹2,26,678 would support a test of ₹2,28,826, followed by the resistance at ₹2,29,751. A move back below the 20 EMA could bring the recent chart lows around ₹2,24,500 into focus.

MCX Crude Oil 19 October futures were near ₹8,587 per barrel. Price remains below its hourly 20 and 50 EMA. The ADX reading of 27.43, supports a bearish trend. The immediate support zone is around ₹8,500, followed by the marked level at ₹8,478. A sustained break below that support would suggest further downside. A recovery above ₹8,771 would be the first sign of improvement; clearing ₹8,873 would bring ₹9,000 into focus, with broader marked resistance at ₹9,384.

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