TODAY'S SESSION RECAP
Energy dominated MCX today. NatGas rallied +2.02% to close ₹288.2/mmBtu, highest since Tuesday, tracking Henry Hub's +6.31% spike—weather-driven supply tightness or cooling demand weakness in the US. Crude gained +1.82% to ₹8800/bbl, extending yesterday's rebound, despite COMEX crude sliding -2.45% into the US session. Metals faded into close: Gold -0.89%, Silver -1.59%, Copper -0.52%. USD/INR steady at ₹95.71 offered no currency relief.
HOW MCX CLOSED VS THE DAY'S RANGE
NatGas closed near the session top: ₹288.2 close vs. ₹293.5 high and ₹283.3 low. A ₹10.2 pullback from peak but 70% of the day's ₹10 range above the midpoint—bullish structure. Crude closed mid-range with retreat: ₹8800 close vs. ₹8914 high and ₹8496 low. Down ₹114 from the day's top, closing near the session open—neutral consolidation after morning strength.
WHAT COMEX IS DOING NOW
COMEX is diverging bearishly. Gold 4326.50 $/oz (-1.14%), Silver 65.05 $/oz (-1.35%), and WTI 92.27 $/bbl (-2.45%) all fading into the US session. The crude collapse is notable—MCX held strength while COMEX rolled over. This overnight weakness in precious metals and crude suggests tomorrow's MCX open may face selling pressure, particularly in Silver.
OVERNIGHT WATCH LIST
Monitor Crude resistance at ₹8914 (today's high) and NatGas support at ₹283 (5-day low). US EIA crude inventory data due tonight (8:30 PM IST Friday). Weather updates on US cooling demand and European gas storage will drive NatGas overnight.
Overnight watch: US crude inventory print + COMEX crude holding below 92.00 $/bbl into US morning session.