MCX Gold futures traded near ₹1,49,277 on October 5, 2026, showing a bearish trend with prices below key moving averages. Silver futures showed signs of a short-term recovery by moving above the hourly 20 exponential moving average (EMA), while crude oil futures remained bearish. However, the overall trend strength for these commodities remains weak, as indicated by low Average Directional Index (ADX) values.
- MCX Gold December futures traded below both 20 EMA and 50 EMA, indicating a bearish alignment.
- Silver December futures moved above the 20 EMA but stayed below the 50 EMA, signaling a recovery attempt.
- Crude oil October futures traded below both EMAs, maintaining a bearish short-term outlook.
- Low ADX values for all three commodities suggest limited trend strength and uncertain momentum.
What is the current trend for MCX Gold futures?
MCX Gold December 4 futures traded near ₹1,49,277, remaining below both the 20 EMA and 50 EMA on the hourly chart. The shorter moving average is below the longer one, confirming a bearish alignment. The ADX value of 12.83 shows that the downward trend lacks strong momentum. For a positive shift, prices need to move above the 20 EMA initially and sustain hourly closes above both moving averages. Otherwise, the bearish bias will continue.
How is MCX Silver performing in the short term?
MCX Silver December 4 futures traded near ₹2,25,991, moving above the 20 EMA but still below the 50 EMA. This indicates a short-term recovery attempt rather than a confirmed uptrend. The ADX reading of 11.43 suggests weak trend strength. To strengthen the recovery, silver prices need to maintain hourly closes above the 50 EMA. Falling back below the 20 EMA would weaken the recovery effort.
What is the outlook for MCX Crude Oil futures?
MCX Crude Oil October 19 futures traded near ₹8,703, below both the 20 EMA and 50 EMA. The 20 EMA remains below the 50 EMA, supporting a bearish short-term view. The ADX value of 13.81 indicates weak trend strength, and directional indicators are closely matched, showing indecision. A recovery above both moving averages would reduce the bearish outlook, while a further decline accompanied by a rising ADX and stronger negative directional indicator would confirm the bearish trend.
What do the ADX readings imply for these commodities?
The Average Directional Index (ADX) measures the strength of a trend without indicating its direction. Low ADX values near 11 to 14 across MCX Gold, Silver, and Crude Oil suggest that none of the current price movements have strong momentum. This means traders should be cautious as trends may not sustain, and price movements could be volatile or range-bound.
What should traders keep in mind when trading these commodities?
Derivatives trading involves significant risk and should only be undertaken by traders who fully understand these risks. It is important to use risk management tools such as stop-loss orders to limit potential losses. The information provided here is for educational purposes and should not be considered as trading advice or recommendations. Traders should conduct their own analysis and make independent decisions before investing.
