Research Report: MCX SILVER & CRUDE OIL

MCX Silver Ready to Launch Final Leg Up

Timeframe: Daily
MCX SILVER has constructed an impulsive cycle from the low at 86,223, and has begun rising upward. ATR of the price is 1868, where ADX stands at 21.17. Wave (1) peaked at 98,884, followed by a corrective wave (2) that bottomed at 93,800. The subsequent bullish phase formed a strong five-wave impulse, reaching wave (3) at 1,16,641, and then began falling into wave C of wave (4), which appears to have completed at 1,09,113.

The market has since bounced back and is now testing a potential resistance zone near 1,14,104. If this level holds, wave B at 1,14,104, the setup points toward the initiation of wave (5), targeting the following levels: 1,16,500 – 1,18,800 – 1,20,000+. However, the bullish scenario is valid till the price holds 1,09,113.

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MCX CRUDEOIL – Imminent Reversal or Ongoing Trend?

Timeframe: 4h
MCX Crude Oil is currently trading around 5,662 after falling from a recent high of 6,184. The chart shows a complex correction pattern, possibly completing wave (B). The price is now hovering near a strong support zone at 5,560. If this level holds, we may see a bullish reversal toward wave (C), potentially pushing prices above 6,000 again.

However, a breakdown below 5,560 could trigger a sharp fall. This would indicate continued bearish pressure and could lead crude oil toward the next major support at 5,117 or even lower. The market is at a critical juncture. If the price breaks down and sustains below 5,560, traders can expect to see the following targets: 5,460 –  5,350 – 5,260+. Whether it rebounds from support or breaks down will likely define the trend for the coming weeks.

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