MCX Gold is trading around ₹1.50 lakh per 10 grams, showing signs of recovery but still facing resistance. Meanwhile, MCX Crude Oil remains weak, trading below key moving averages with bearish trends. Silver shows some improvement but lacks strong directional strength. This article explains the current trade setup for these commodities and what traders should watch next.
- MCX Gold has recovered above its hourly 20 EMA but remains below the 50 EMA.
- Silver trades above its 20 EMA but below the 50 EMA, with weak trend strength.
- Crude Oil stays below both 20 and 50 EMAs, indicating a bearish trend.
- Key support and resistance levels are identified for all three commodities.
- Traders are advised to understand risks and use stop-loss mechanisms.
What is the current status of MCX Gold trading?
MCX Gold 5 October futures have recovered above the hourly 20 Exponential Moving Average (EMA) but remain below the 50 EMA. The Average Directional Index (ADX) reading is 23.46, suggesting modest trend strength and improving buying momentum. This indicates a recovery within the previous decline. If gold sustains a move above ₹1,48,092, the recovery could strengthen and target the resistance at ₹1,49,665. However, if it fails to hold above the 20 EMA, the price may drop toward the recent support levels near ₹1,46,000 and ₹1,45,274.
How is MCX Silver performing in the market?
MCX Silver 4 December futures are trading above the hourly 20 EMA but below the 50 EMA. The ADX reading of 16.92 indicates a weak trend, meaning the recovery lacks strong directional conviction. While the near-term bias has improved, the broader hourly structure remains vulnerable below the 50 EMA. If silver sustains above ₹2,26,678, it could test resistance levels at ₹2,28,826 and ₹2,29,751. A fall below the 20 EMA may bring recent lows around ₹2,24,500 into focus.
What is the outlook for MCX Crude Oil futures?
MCX Crude Oil 19 October futures are trading near ₹8,587 per barrel, remaining below both the hourly 20 and 50 EMAs. The ADX reading of 27.43 supports a bearish trend. Immediate support is around ₹8,500, followed by a stronger support at ₹8,478. A sustained break below these levels could lead to further downside. On the upside, a recovery above ₹8,771 would indicate improvement, and clearing ₹8,873 could bring the ₹9,000 level into focus. Broader resistance is marked at ₹9,384.
What precautions should traders take when trading derivatives?
Derivatives trading involves significant risks and should only be done by traders who fully understand these risks. It is important to strictly apply risk management techniques such as stop-loss orders. The information provided here is for educational purposes and should not be considered as recommendations for any specific stocks, securities, or trading strategies. Traders should make their own decisions before investing.
