MCX Gold trades flat at ₹1.42 lakh after testing key support at ₹1,40,543; check today’s trade setup

Market recap (as of 1:00 pm)

• Gold 5 Aug Futures: ₹1,42,627/ 10 gram (▲ 0.1%)
• Silver 3 July Futures: ₹2,25,280/ 1 kg (▲ 2.6%)
• Crude Oil 20 July Futures: ₹6,680/ 1 BBL (▼ 0.7%)

MCX Gold remains under pressure and is trading near ₹1,41,255, close to the key ₹1,40,543 support level. The price is below both the 20-period and 50-period hourly EMAs, keeping the short-term structure negative. The DMI setup remains clearly bearish, while ADX near 27.7 shows that the downside trend still has strength.

MCX Silver is trading near ₹2,20,000 after a sharp fall earlier in the month. It has managed to hold above the recent lows and is attempting to consolidate around its short-term moving averages.

However, the price is still below the key ₹2,28,162 resistance zone. The DMI lines are close to each other and ADX is near 14, indicating that the market currently lacks a clear directional trend.

MCX Crude oil is trading near ₹6,663 after recovering from the recent low around ₹6,497. However, the price remains below both the 20-period and 50-period EMAs, which keeps the broader intraday structure weak.

The latest candles indicate consolidation rather than a decisive recovery. The DMI is also largely neutral-to-negative, while ADX is near 15.6, showing that trend strength is currently low.

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