Buy Gold Above 143100 SL BELOW 142300 TGT 144200/145000 - Axis Securities Ltd
Macro
• Gold prices climbed more than 1% on Tuesday as investors assessed diplomatic efforts to ease tensions between the U.S. and Iran. Hopes of de-escalation could reduce oil-driven inflationary pressures and influence the U.S. Federal Reserve's interest rate outlook, supporting safe-haven demand for the precious metal.
• Copper prices advanced more than 2%, driven by concerns over tightening global supplies and strong buying interest from China. However, gains were capped by lingering concerns over global economic growth amid the escalating U.S.-Iran conflict.
• WTI crude oil prices edged lower after settling more than 1% higher in the previous session. Investors continued to monitor the escalating U.S.-Iran conflict and its potential impact on Middle East energy supplies, particularly following Yemen's Houthi movement's naval blockade targeting Saudi Arabia.
Panel One
* 15-minute candlesticks for a rolling three-day period have been plotted.
* Blue horizontal line shows an open gap which could either be up or down (open-gap up: low of next candle does not overlap the high of the prior candle, and vice versa for an open-gap down). The horizontal line showing the gap will only appear if the price has not visited the gap area.
Panel Two
* Plots the Slow Stochastics study to identify overbought (90 and above) and oversold (20 and below) areas.
* Signals are generated when the fast line (black) crosses the slow line (blue).
Panel Three
* Plots the Fisher Transform study that helps identify extremes and makes turning points clearer.
* Red bands lie between +2 and +3 and can be thought of as an area where a peak could occur. Green bands lie between -2 and -3 and often mark bottoms.
Gold
BUY GOLD ABOVE 143100 SL BELOW 142300 TGT 144200/145000.
* Nearby Support: 1,42,100/ 1,40,500/ 1,39,000
* Nearby Resistance: 1,43,100/ 1,44,800/ 1,46,500
* Nearby Gaps: 1,41,000.
Silver
SELL SILVER BELOW 219000 SL ABOVE 223000 TGT 214000/210000.
* Nearby Support: 2,19,000/ 2,14,000/ 2,09,000
* Nearby Resistance: 2,24,000/ 2,29,000/ 2,33,000
* Nearby Gaps: 2,18,000.
Crudeoil
BUY CRUDEOIL ABOVE 8050 SL BELOW 7950 TGT 8200/8270.
* Nearby Support: 7,850/ 7,700/ 7,550
* Nearby Resistance: 8,050/ 8,200/ 8,350
* Nearby Gap(s): NONE.
Copper
BUY COPPER ABOVE 1334 SL BELOW 1328 TGT 1341/1347.
* Nearby Support: 1,317/ 1,300/ 1,290
* Nearby Resistance: 1,334/ 1,324/ 1,333
* Open Gap(s): 1,314.55.
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SEBI Registration number is INZ000161633
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