TODAY'S SESSION RECAP
NatGas dominated MCX, closing +0.72% at ₹280.4/mmBtu on demand recovery and supply tightness ahead of winter seasonality. Copper followed with +0.45% to ₹1366.55/kg, supported by softer dollar and manufacturing optimism. Gold and silver both retreated—gold -0.34% to ₹150,723/10g and silver -0.28% to ₹232,036/kg—as US yields firmed and real rates attracted flows away from bullion. Crude edged higher +0.06% to ₹10,215/bbl but lacked conviction through the session.
HOW MCX CLOSED VS THE DAY'S RANGE
NatGas closed at ₹280.4, well above its low of ₹276.3 but shy of the day's high of ₹283.4—a mild fade from intraday strength into the final 30 minutes. Copper similarly retreated from its ₹1367.45 high, closing at ₹1366.55 just above its ₹1350.3 low—a narrow close near range midpoint signaling indecision. Gold's ₹1519-point range compressed into a -0.34% close at ₹150,723, reflecting pullback from ₹151,553 peak. Metals closed structurally weaker; energy showed pockets of resilience.
WHAT COMEX IS DOING NOW
COMEX is sharply diverging. WTI crude is surging +4.21% to 105.66 $/bbl—a powerful overnight signal. Henry Hub gas +1.00% at 2.93 $/mmBtu confirms the energy rally. COMEX gold flat at -0.09% (4348.10 $/oz) and silver oddly strong at +1.36% (64.38 $/oz). The crude strength is decidedly bullish for MCX Crude's tomorrow open; energy breadth favours upside.
OVERNIGHT WATCH LIST
Monitor MCX Crude above ₹10,238 resistance; NatGas holding ₹282 R1 level. COMEX crude's +4.21% overnight surge—likely supply disruption fears—will set the tone. US EIA crude inventory data tonight is critical. NatGas weather forecasts for heating demand will guide Henry Hub and MCX NatGas through the overnight window.
Overnight watch: US crude inventory data (EIA) and WTI holding 105.50 $/bbl support—either confirm or negate tomorrow's crude rally.