Evening Commodity Trading Guide 28th Apr 2026 

Gold Technical Outlook

COMEX Gold (Spot):

Gold is currently exhibiting a Sideways to Bearish Sentiment, as prices face significant supply pressure at higher levels. Immediate resistance is pegged near $4,600 – $4,680, while key support levels are established between $4,520 – $4,440. A sustained move below these support floors could signal an extension of the corrective trend.

MCX Gold (Jun):

Mirroring the weakness in global markets, MCX Gold faces resistance at ₹1,50,000 – ₹1,53,000, with the primary support zone situated between ₹1,48,000 – ₹1,45,000. Technical indicators suggest that weakness in prices may continue if the lower support boundaries are breached. Short-term traders should remain cautious.

Overall View:

The near-term outlook remains fragile with a downward bias. While active traders should wait for a clear base to form before entering, long-term investors may view this period of price softening as an opportunity to buy in small amounts on every dip toward the primary support zones.

Silver Technical Outlook

COMEX Silver (Spot):

Silver is currently exhibiting a Sideways to Bearish Sentiment, struggling to maintain its footing after recent selling pressure. Immediate resistance levels are placed at $73.80 – $78, while key support is likely to be found around $70 – $66. A failure to hold the $70 psychological mark could accelerate the bearish momentum toward lower support tiers.

MCX Silver (May):

Tracking global trends, MCX Silver faces resistance at ₹2,38,000 – ₹2,46,000, with support expected near ₹2,32,000 – ₹2,24,000. The technical structure suggests that weakness in prices may continue if the immediate support zone is breached. Short-term traders should exercise caution and avoid aggressive long positions until a reversal is confirmed.

Overall View:

The short-term trend remains heavy as the market undergoes a corrective phase. While the current environment requires caution for active traders, the pullback offers an accumulation window for long-term investors, who may consider buying in small amounts on every dip toward the primary support zones.

Natural Gas Technical Outlook

NYMEX Natural Gas (Spot):

Natural Gas is currently exhibiting a Sideways to Bullish Sentiment. After a period of consolidation, the commodity is showing resilience at lower levels. Immediate resistance stands at $2.80 – $2.88, while key support levels are firmly established between $2.72 – $2.66. A breakout above the $2.88 mark could trigger a fresh wave of buying interest.

MCX Natural Gas (May):

Tracking global price action, MCX Natural Gas faces resistance at ₹262 – ₹270, with support levels positioned near ₹256 – ₹248. The technical setup indicates that we may see an upmove once the price sustains above the resistance zone. However, traders should remain extra cautious as heightened volatility persists.

Overall View:

The market structure is gradually leaning toward the upside, provided the support base remains intact. Due to ongoing geopolitical tensions and the inherently volatile nature of Natural Gas, disciplined trading and strict risk management are essential for those looking to capitalize on a potential breakout.

Aluminium Technical Outlook

LME Aluminium (Spot):

Aluminium is currently exhibiting a Mixed Sentiment, reflecting a period of indecision in the global markets. Immediate resistance is established at $3,550 – $3,600, while key support levels are positioned between $3,500 – $3,440. The price action suggests a consolidation phase, and a clear break beyond these boundaries is required to establish a fresh directional trend.

MCX Aluminium (May):

Following the global trend, MCX Aluminium faces resistance at ₹379 – ₹383, with support levels identified at ₹374 – ₹370. The technical outlook indicates that weakness in prices may continue if the support zone is decisively breached. Traders are advised to remain extra cautious as the market remains sensitive to external factors.

Overall View:

The broader market is experiencing a cooling-off period following recent strength. With heightened volatility persisting due to ongoing geopolitical tensions, market participants should prioritize capital preservation. Strict risk management and a watchful eye on the $3,500/₹370 support levels are essential for navigating the current environment.

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