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MCX Gold trades in narrow range around ₹1.59 lakh per 10 gram, MCX Crude oil faces resistance near ₹9,550 level
Sanjeev Kumar | May 23, 2026 12:23 AM CST

 

MCX Gold is trading near ₹1,59,000 and has been moving in a narrow range after the sharp rally earlier this month. The price is hovering around the 20 and 50-period moving averages, suggesting indecision and short-term consolidation. Immediate support is around ₹1,58,000, followed by the important support zone near ₹1,54,500. On the upside, ₹1,60,000 is the first hurdle. The ADX at 17.69 shows weak trend strength, so the current trend is sideways.

Silver is consolidating near ₹2,72,630 after correcting from the recent high above ₹3,00,000. The price is moving close to both the 20 and 50-period moving averages, showing lack of clear direction. Immediate support is around ₹2,66,500, and a break below this level can weaken the structure further. On the upside, ₹2,75,000-₹2,78,000 is the first resistance zone. The ADX is at 16.66, indicating a weak trend and low momentum.

MCX Crude oil is trading near ₹9,446 and is trying to recover after a sharp fall from the recent swing high near ₹10,100. The price is still below the 20 and 50-period moving averages, which keeps the short-term structure weak. Immediate resistance is placed around ₹9,500-₹9,550, and a sustained move above this zone can trigger a recovery towards ₹9,750. On the downside, ₹9,250 is the near-term support, followed by the stronger support near ₹8,906. The ADX is above 30, which means the trend strength is high, but since price is below key averages, the trend remains bearish to sideways unless ₹9,550 is reclaimed.


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