COMMODITY MARKET (26th Oct 2026)

Commodity Levels:

Evening Commodity Trading Guide 26^th Oct 2026

Gold Technical Outlook

MCX Gold (Dec): The domestic December contract reflects an ongoing corrective posture, keeping its sentiment in line with COMEX. Technical resistance is positioned at ₹1,43,500 – ₹1,45,000, while the primary support zone lies between ₹1,41,800 – ₹1,40,500. Technical analysis indicates that we have seen more than a 1% fall in the previous session, but today from support levels we are seeing a bit of recovery; overall sentiment remains negative as prices are below 200EMA and RSI is also declining near 50, which is showing weakness in prices. If prices break the support zones, we can expect more negativity. For strategic long-term allocation, long-term investors can consider buying in small amounts on every dip to systematically accumulate positions.

COMEX Gold (Spot):Spot gold displays a Bearish Sentiment profile as price action trades beneath immediate resistance barriers. Resistance is identified near $4,050 – $4,100, while key underlying support levels are seen near $3,980 – $3,940.

Overall View: Gold remains in a corrective setup beneath key moving average hurdles. While temporary rebounds may emerge off lower support bounds, broader technical signals and a weakening RSI suggest overhead rejection risks persist, with a breach below support threatening further price weakness. Long-term buyers can continue disciplined, phased accumulation on dips.

Silver Technical Outlook

MCX Silver (Dec): Mirroring international benchmark price weakness, the active December contract continues to face downside pressure, keeping sentiment in line with COMEX. Technical resistance stands at ₹1,97,500 – ₹2,00,000, with support expected near ₹1,94,000 – ₹1,92,000. Technical analysis suggests in the previous session, we saw more than a 3% fall and instant recovery, indicating volatility in prices, but overall sentiment is still weak as prices are below the 60,200 EMA and RSI is also declining under 50, showing weakness, so if prices break the support zone, we can expect negativity. Simultaneously, long-term investors can consider buying in small amounts on every dip to build core long-term allocations.

COMEX Silver (Spot): Spot silver exhibits a Bearish Sentiment setup. Overhead resistance levels are placed at $54.50 – $55.80, while support is likely established around $53.40 – $52.20.

Overall View: Silver maintains a distinct bearish posture despite volatile intra-session bounces. Positioned below key exponential moving averages with RSI trading under 50, rallies face fresh selling pressure near resistance limits, making strict risk management critical for active traders.

Crude Oil Technical Outlook

MCX Crude Oil (Nov): Trading in line with International NYMEX Spot prices, the November contract displays a potential stabilization structure. Technical resistance is positioned at ₹9,700 – ₹9,820, while immediate support rests between ₹9,580 – ₹9,450. Technical analysis notes that continuing to show positivity, although today we have seen a gap-down open after resisting 9800 in the previous session. Today, after the gap-down, prices are trying to sustain above the 60,200 EMA, with the EMA showing some positive sign and RSI also trying to recover, ranging from 40-50, showing a bit of stability, so we can expect a positive movement if sustained above the resistance zone. Furthermore, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

NYMEX WTI Crude Oil (Spot): Spot Crude Oil carries a Bullish Sentiment profile as upside momentum attempts to build above key moving averages. Resistance stands at $102 – $104, while key support levels are seen between $100 – $98.

Overall View: Crude oil exhibits resilience following early gap-down pressure, with technical support holding above moving averages. A sustained breakout above the overhead resistance zone could extend positive momentum, though geopolitical headlines warrant cautious positioning.

Zinc Technical Outlook

MCX Zinc (Nov): Directly tracking global trend, the active October contract experiences strong bullish momentum. Technical resistance is positioned at ₹416 – ₹420, while key support underpins price action between ₹408 – ₹404. Technical analysis indicates a really positive movement today; after opening it has been making higher highs, and gains above 3% prices are sustaining above the 10, 60, 200 EMAs, indicating positive momentum can continue and RSI cooled down from Over Bought zone and Now hovering around 70 showing strength after profit book at higher levels and if prices again breaches resistance zone we can expect stong momentum upward or if prices fall we can expect buying from support zone. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc holds a Bullish Sentiment profile as price action expands upward. Overhead resistance stands between $3,820 – $3,850, while key support levels are established between $3,780 – $3,750.

Overall View: Zinc demonstrates robust structural strength with prices holding above all key EMAs and RSI maintaining elevated momentum near 70. Clearing resistance thresholds can trigger further upside acceleration, while dips toward support zones present potential technical buying opportunities.

Commodities: Pivot Table

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