Commodity Market (06th Nov 2026)

Evening Commodity Trading Guide 06^th Nov 2026

Gold Technical Outlook

MCX Gold (Dec): The domestic December contract experiences temporary consolidation within a broader structural framework, keeping its sentiment in line with COMEX. Technical resistance is positioned at ₹1,43,000 – ₹1,44,500, while the primary support zone lies between ₹1,41,500 – ₹1,40,000. Technical analysis indicates seeing some profit booking, but we can expect a bounce from the lower level. 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 Sentiment profile as price action consolidates within defined technical parameters. Resistance is identified near $4,100 – $4,155, while key underlying support levels are seen near $4,040 – $3,980.

Overall View: Gold is absorbing near-term profit-booking near overhead resistance boundaries. With key support zones holding firm, lower-level demand is expected to trigger technical bounces, while strategic long-term buyers can continue disciplined, phased accumulation on price pullbacks.

Silver Technical Outlook

Mirroring international benchmark price dynamics, the active December contract reflects an improving underlying bias despite brief corrections, keeping sentiment in line with COMEX. Technical resistance stands at ₹1,86,000 – ₹1,90,800, with support expected near ₹1,82,500 – ₹1,78,000. Technical analysis suggests seeing some profit booking, but we can expect a bounce from the lower level. 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 Sentiment setup. Overhead resistance levels are placed at $52.50 – $53.50, while support is likely established around $51.20 – $50.

Overall View: Silver maintains a range-bound technical structure with an underlying bullish tilt. Near-term profit-taking is expected to find solid buying interest around intermediate support levels, confirming potential upside continuation toward overhead resistance targets.

Crude Oil Technical Outlook

MCX Crude Oil (Nov): Trading in line with International NYMEX Spot prices, the November contract experiences persistent selling pressure beneath key moving average hurdles. Technical resistance is positioned at ₹8,650 – ₹8,900, while support rests between ₹8,350 – ₹8,100. Technical analysis notes that weakness in prices may continue after sustaining below 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 price action consolidates with downside risks dominating. Resistance stands at $92.20 – $94.50, while key support levels are seen between $89.20 – $86.70.

Overall View: Crude oil remains locked in a sideways-to-bearish posture. A sustained breakdown below primary lower support bounds could accelerate downside momentum, making strict risk management essential given ongoing geopolitical uncertainties.

Zinc Technical Outlook

MCX Zinc (Nov): Directly tracking global trend, the active November contract reflects near-term consolidation within a defined range. Technical resistance is positioned at ₹412 – ₹417, while key support underpins price action between ₹408 – ₹404. Technical analysis indicates seeing some profit booking, but we can expect a bounce from the lower level. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc holds a Sideways Sentiment profile as price action consolidates between established limits. Overhead resistance stands between $3,740 – $3,910, while key support levels are established between $3,700 – $3,670.

Overall View: Zinc is absorbing minor profit-taking within a neutral-to-balanced consolidation range. Holding above the primary support floor should facilitate a technical recovery toward overhead resistance boundaries, though elevated market volatility calls for cautious position sizing.

Commodities: Pivot Table

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