On October 7, 2026, MCX gold prices traded lower around ₹1.49 lakh, while crude oil futures jumped over 1% amid ongoing geopolitical tensions. Analysis of key technical indicators shows weak trends for gold and silver, with crude oil facing resistance near important moving averages.
- Gold futures traded below both EMA20 and EMA50, indicating a weak bias.
- Silver futures also remained below EMA20 and EMA50, favoring sellers but lacking strong trend confirmation.
- Crude oil futures rose above EMA20 but stayed just below EMA50, showing potential resistance.
- Low ADX readings across gold, silver, and crude oil suggest limited directional strength.
What is the current trend for MCX Gold futures?
MCX Gold Mini November 5 futures stood at ₹1,48,515, trading below both the 20-day and 50-day Exponential Moving Averages (EMA). The EMA20 remains below EMA50, which keeps the hourly bias weak. The Average Directional Index (ADX) value of 11.76 indicates little directional conviction, meaning the price trend lacks strength.
For gold to improve its recovery setup, it needs sustained hourly closes above the EMA area. The immediate resistance level is ₹1,49,802. If gold fails to reclaim these averages, the weak bias will continue, with the next support level around ₹1,47,162.
How is MCX Silver performing technically?
MCX Silver Mini November 30 futures were at ₹2,27,565, also trading below EMA20 and EMA50. The bearish alignment of these averages and negative price action favor sellers. However, the ADX reading of 13.92 does not confirm a strong downtrend yet.
If silver manages to reclaim and hold above both EMAs, it would strengthen the recovery outlook. Resistance is at ₹2,30,700, while support lies near ₹2,25,797. A sustained break below support combined with a rising ADX would confirm a stronger bearish trend.
What is the status of MCX Crude Oil futures?
MCX Crude Oil October 19 futures traded at ₹8,668, above the EMA20 but just below EMA50. The EMA20 remains below EMA50, and the ADX value of 16.34 suggests the recovery is not yet confirmed.
If crude oil prices sustain above the EMA50, the recovery structure would improve. Conversely, losing support at EMA20 would weaken the rebound and bring the support zone between ₹8,529 and ₹8,478 into focus.
What do low ADX readings mean for these commodities?
The Average Directional Index (ADX) measures the strength of a trend regardless of direction. Low ADX readings for gold (11.76), silver (13.92), and crude oil (16.34) indicate that none of these commodities currently have a strong trend. This suggests that price movements may be limited or range-bound in the short term.
In summary, MCX gold and silver futures show weak technical setups with bearish tendencies but lack strong trend confirmation. Crude oil futures have gained over 1% but face resistance near the EMA50, with trend strength still uncertain. Traders should watch for sustained moves above or below key moving averages and rising ADX values to confirm trend direction.
