TODAY'S SESSION RECAP
Crude dominated Friday's MCX close, rallying 3.09% to settle ₹9572/bbl on the back of WTI strength at 99.28 $/bbl (+1.34%). The 410-point intraday range (₹9192–₹9602) reflected sustained buying throughout the session as refinery maintenance fade concerns eased. Silver recorded modest gains of 0.36% to ₹211418/kg, while Gold and Copper remained muted at +0.35% and +0.25% respectively. Natural Gas bucked the upside trend, sliding 0.03% to ₹298.5/mmBtu, mirroring Henry Hub weakness (-3.80%) on mild weather forecasts signaling end-of-injection-season supply tightness.
HOW MCX CLOSED VS THE DAY'S RANGE
Crude closed near the upper half of its range, settling just 30 points below the session high of ₹9602/bbl, signaling bullish structural close. The 410-point range compression from the ₹9192 low demonstrates sustained buying pressure without late-session profit-taking. Silver closed at ₹211418/kg, near its midpoint (H: ₹213990 / L: ₹210700), indicating neutral momentum into close. The 3290-point range reflected choppy consolidation rather than directional conviction.
WHAT COMEX IS DOING NOW
COMEX markets confirm MCX direction. WTI crude extends gains at 99.28 $/bbl, reinforcing the intraday rally narrative. COMEX Gold trades at 4177.80 $/oz (+0.18%), aligned with MCX's flat performance. However, Henry Hub weakness at 3.11 $/mmBtu (-3.80%) diverges from MCX NatGas flatness, suggesting overnight US supply data may weigh on Monday's open.
OVERNIGHT WATCH LIST
Crude ₹9602 resistance — today's high now acts as overnight pivot. Silver ₹213990 — session high represents next breakout level. NatGas ₹291.7 support — watch for breach into next session on continued mild weather. US crude inventory release (tonight) and ECB speakers will shape overnight sentiment.
Overnight watch: US crude inventory print + WTI's ability to hold above 99 $/bbl