COMMODITY MARKET (23rd Sep 2026)

Commodity Levels:

Evening Commodity Trading Guide 23^rd Sept 2026

Gold Technical Outlook

MCX Gold (Oct): The domestic October contract reflects a balanced technical profile, keeping its sentiment in line with COMEX. Technical resistance is positioned at ₹1,53,000 – ₹1,54,200, while the key support zone lies between ₹1,51,500 – ₹1,50,000. Chart setups indicate that weakness in prices can be seen but from lower levels buyers can be activated and we can see bounce but stay cautious. For long-term portfolio allocation, long-term investors can consider buying in small amounts on every dip to systematically build core holdings.

COMEX Gold (Spot): Spot gold displays a Sideways Sentiment profile as price consolidation continues within established boundaries. Immediate resistance is identified near $4,340 – $4,380, while key underlying support levels are seen near $4,300 – $4,260.

Overall View: Gold remains in a neutral range-bound structure with potential for demand to step in at lower channel limits. Tactical traders should maintain a disciplined approach near resistance boundaries, while long-term investors can use orderly pullbacks to scale into positions.

Silver Technical Outlook

MCX Silver (Dec): Following international benchmark price movement, the active December contract continues to consolidate near critical support zones, keeping sentiments in line with COMEX. Technical resistance stands at ₹2,39,000 – ₹2,42,000, with support expected near ₹2,36,000 – ₹2,33,000. Technical indicators suggest weakness in prices can be seen but from lower levels buyers can be activated and we can see bounce but stay cautious. Simultaneously, long-term investors can consider buying in small amounts on every dip to construct long-term allocations over time.

COMEX Silver (Spot): Spot silver exhibits a Sideways Sentiment framework. Resistance levels are placed at $66 – $67.50, while primary support buffers are likely established around $64.50 – $63.

Overall View: Silver presents a sideways technical structure where support retests may trigger defensive buying. Risk management remains key for short-term strategies, while dollar-cost averaging dips remains favorable for strategic portfolios.

Crude Oil Technical Outlook

MCX Crude Oil (Oct): Trading in line with International NYMEX Spot prices, the contract continues to experience downward pressure. Technical resistance is positioned at ₹8,700 – ₹8,900, while primary support rests between ₹8,520 – ₹8,380. Chart indicators suggest weakness in prices may continue after breaching the support 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 Sideways to Bearish Sentiment profile as market sentiment remains cautious. Resistance stands at $91.20 – $93.80, while key support levels are seen between $88.50 – $86.

Overall View: Crude oil maintains a cautious to bearish stance. A sustained breakdown beneath primary support zones could trigger further downside extension, necessitating strict stop-loss discipline given headline-driven price swings.

Zinc Technical Outlook

MCX Zinc (Sept): Directly tracking global trend, the active September contract continues its steady upward movement. Technical resistance is positioned at ₹435.50 – ₹440, while primary support underpins price action between ₹431 – ₹426.50. Under this constructive trend setup, the core tactical stance remains Buy on Dips. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc holds a sideways-to-bullish sentiment profile, supported by stable physical demand fundamentals. Overhead resistance stands at $3,920 – $3,960, while key support levels are established between $3,880 – $3,840.

Overall View: Zinc retains a favorable trend structure. Minor pullbacks toward primary support zones continue to offer solid risk-reward entry points for trend-following dip buyers.

Commodities: Pivot Table

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