COMMODITY MARKET (21st Oct 2026)

Commodity Levels:

Evening Commodity Trading Guide 21^st 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 ₹1,46,500 – ₹1,47,500, while the primary support zone lies between ₹1,45,000 – ₹1,43,700. Technical analysis indicates that overall a bearish Sentiment following we have seen a bounce yesterday from lower levels but didnt sustained and today broke the previous days low showing negativity and prices also below 10,60,200EMA with healthy volumes and RSI hovering near 40 showing weakness as well so if breaches support level we can expect more downside pressure. 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 Sideways to Bearish Sentiment profile as price action trades beneath immediate resistance barriers. Resistance is identified near $4,150 – $4,200, while key underlying support levels are seen near $4,100 – $4,060.

Overall View: Gold continues to trade with an underlying bearish bias following the failure of recent lower-level bounces to sustain. Trading below critical exponential moving averages alongside a weak RSI indicates risks remain tilted toward support zone tests, though long-term buyers may continue disciplined accumulation on dips.

Silver Technical Outlook

MCX Silver (Dec): Mirroring international benchmark price weakness, the active December contract continues to face downside pressure, keeping sentiments in line with COMEX. Technical resistance stands at ₹2,11,500 – ₹2,14,000, with support expected near ₹2,08,500 – ₹2,05,500. Technical analysis suggests gap down opening today, but taking support near 208500, and we are seeing a bounce from here, but overall a bearish sentiment as prices are below 200EMA, so we can expect selling pressure near resistance levels. 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 Sideways to Bearish Sentiment setup. Overhead resistance levels are placed at $58.50 – $59.50, while support is likely established around $56.50 – $55.50.

Overall View: Silver maintains a broader bearish framework despite intraday rebound attempts off lower support bounds. Positioned below the 200 EMA, rallies toward resistance zones are expected to encounter fresh selling pressure, warranting strict risk controls for short-term trades.

Crude Oil Technical Outlook

MCX Crude Oil (Nov): Trading in line with International NYMEX Spot prices, the November contract continues to demonstrate strong bullish recovery momentum. Technical resistance is positioned at ₹9,600 – ₹9,850, while immediate support rests between ₹9,350 – ₹9,080. Technical analysis notes that continuing to show positivity, although yesterday we saw a gap-down open and a fall around 8%, but then bounced back and today showing positive momentum, and prices are above the 10,60,200 EMA as well, with healthy volumes, and RSI is also nearing 60, which shows strength in prices, so we can expect more positive move after breaching 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 $101.30 – $103, while key support levels are seen between $98.80 – $97.

Overall View: Crude oil maintains strong positive momentum, demonstrating resilient buying volume following recent sharp pullbacks. Holding above key moving average supports and an RSI near 60 reinforce upside potential toward upper resistance zones, though persistent geopolitical headline risks demand strict risk parameters.

Copper Technical Outlook

MCX Copper (Oct): Directly tracking global trend, the active October contract experiences near-term consolidation within a broader range-bound structure. Technical resistance is positioned at ₹1395 – ₹1403, while key support underpins price action between ₹1380 – ₹1372. Technical analysis indicates today we are seening prices making lower lows but in broader perspective we can expect a range movement as prices are trying to recover from lower levels and RSI also recovering so if prices truly bounce and sustained above the resistance zone we can expect positive movement and from higher side can expect selling pressure so from there we can expect negative movement. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

COMEX Copper (Spot): COMEX Copper holds a Sideways Sentiment profile as price action consolidates between well-defined parameters. Overhead resistance stands between $6.70 – $6.76, while key support levels are established between $6.55 – $6.50.

Overall View: Copper displays a neutral two-way range structure. Although intraday lower lows keep short-term sentiment cautious, recovering RSI levels suggest range-bound consolidation, where resistance zones may trigger overhead selling pressure and support holds trigger technical bounces.

Commodities: Pivot Table

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