TODAY'S SESSION RECAP
NatGas led MCX lower, closing ₹290.8/mmBtu, down 0.99% — the session's heaviest mover. Silver followed at -0.76%, finishing ₹223,740/kg. Crude bucked the bearish tone, advancing 0.43% to ₹8,715/bbl. NatGas weakness reflected demand concerns ahead of Q4 heating season, while silver's retreat mirrored COMEX's -0.19% decline. Copper and gold traded near-flat (±0.03%), consolidating after recent volatility. USD/INR holding ₹96.10 offered no fresh tailwind for rupee-priced contracts.
HOW MCX CLOSED VS THE DAY'S RANGE
NatGas closed at the lower half of its ₹286.3–₹294.8 range, retrenching ₹4 from the intraday high — a bearish fade structure into close. Silver similarly retreated from ₹227,688 to settle ₹223,740, closing at its session low, indicating seller conviction through the final hour. Both contracts closed near support levels, signalling weakness momentum carried into the final 30 minutes of trade.
WHAT COMEX IS DOING NOW
COMEX crude is rallying sharply at 90.59 $/bbl, +1.35% — a bullish divergence from MCX's modest +0.43%. COMEX gold at 4,183.70 $/oz, +0.10%, mirrors MCX's near-flat close. COMEX silver at 60.56 $/oz, -0.19%, confirms bearish pressure on precious metals overnight. The US crude strength suggests tomorrow's MCX crude open may revisit ₹8,750–₹8,830 resistance.
OVERNIGHT WATCH LIST
NatGas: Watch support at ₹289 (S1); break below signals ₹286.3 test. Silver: ₹223,500 (session low) critical hold; break triggers ₹220,000 probe. Crude: COMEX's +1.35% rally targets ₹8,750 at MCX open. US crude inventory data (EIA weekly, 2:30 am IST Thursday) is the key overnight catalyst.
Overnight watch: US EIA crude inventory release — 2:30 am IST for crude directional signal at MCX open.