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MCX Gold

Technical Outlook:

MCX Gold settled on a bullish note, gaining nearly 4% to close around the Rs 1,58,000 mark. The precious metal staged a decisive range breakout above the Rs 1,55,000 psychological barrier, signalling strong structural upside. The near-term trend remains firmly positive, supported by prices sustaining well above the 9 and 20 EMAs. Furthermore, the RSI holding above the 60 threshold confirms powerful bullish momentum. Consequently, a "buy on dips" strategy is highly recommended for the upcoming week.

Recommendation:

We recommend buying MCX Gold around Rs 1,56,000 with a stop-loss below Rs 1,54,500 and targets of Rs 1,59,000.

Current Market Price (CMP): Rs 1,58,450

MCX Silver

Technical Outlook:

MCX Silver rallied nearly 4% last week, extending gains for the third consecutive week. Technically, prices continue to form higher highs and higher lows on the weekly chart, reflecting sustained bullish momentum and positive market structure. On the weekly chart, the metal is comfortably placed above the 9 and 20 EMA, which is a bullish sign. Additionally, it is trading above the Rs 2,65,000 level, which is a strong support zone for prices. We expect silver to trade with a positive-to-sideways bias this week.

Recommendation:

We recommend buying MCX Silver around Rs 2,68,000, with a stop-loss below Rs 2,63,000 and targets of Rs 2,75,000.

Current Market Price (CMP): Rs 2,71,200

MCX Crude Oil

Technical Outlook:

MCX Crude Oil recouped its previous week’s losses, rallying over 11% for the week. Prices settled above Rs 10,000 for the first time since Mar’26, signalling a structural shift toward a strong bullish undertone. Additionally, it is sustaining above 9 and 20 EMA, which is a positive sign. Moving forward, we expect crude to maintain its upward trajectory with a distinct positive bias for the week.

Recommendation:

We recommend buying MCX Crude Oil around Rs 9,700, with a stop-loss below Rs 9,400 and targets of Rs 10,100 and Rs 10,300.

Current Market Price (CMP): Rs 10,085

MCX Copper

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Technical Outlook:

MCX Copper settled flat last week, completely surrendering its initial weekly gains. Despite the late-week cooling, the near-term outlook remains structurally bullish. This strength is supported by the momentum indicator, RSI, which continues to hold above the 60 threshold, signalling resilient upside velocity. Additionally, prices are comfortably tracking above the 9-day and 20-day Exponential Moving Averages (EMAs). Consequently, we expect the base metal to maintain a distinct positive bias moving forward.

Recommendation:

We recommend buying MCX Copper around Rs 1,330 with a stop-loss below Rs 1,315 and a target of Rs 1,360.

Current Market Price (CMP): Rs 1,340

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