Buy Gold Above 145500 SL BELOW 144500 TGT 147000/148000 - Axis Securities Ltd
Macro
• Gold prices were nearly flat on Thursday after touching a two-week high in the previous session, as investors balanced escalating Middle East tensions against concerns that higher oil prices could fuel inflation and prompt the U.S. Federal Reserve to maintain a restrictive monetary policy stance.
• Copper futures advanced toward $6.52 per pound, hovering near a seven-week high, as tightening global supply and declining exchange inventories continued to underpin prices.
• WTI crude oil prices extended gains for a fifth consecutive session in Asian trading after Iran-backed Houthi militants claimed attacks on two Saudi oil tankers in the Red Sea, intensifying concerns over potential supply disruptions along key Middle East shipping routes.
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 145500 SL BELOW 144500 TGT 147000/148000.
* Nearby Support: 1,44,000/ 1,42,500/ 1,40,500
* Nearby Resistance: 1,45,500/ 1,47,500/ 1,49,000
* Nearby Gaps: 1,46,000.
Silver
SELL SILVER BELOW 221800 SL ABOVE 226000 TGT 216000/211000.
* Nearby Support: 2,21,800/ 2,16,000/ 2,11,000
* Nearby Resistance: 2,27,000/ 2,32,000/ 2,37,000
* Nearby Gaps: 2,27,000.
Crudeoil
BUY CRUDEOIL ABOVE 8700 SL BELOW 8600 TGT 8850/8950.
* Nearby Support: 8,480/ 8,300/ 8,150
* Nearby Resistance: 8,700/ 8,880/ 9,050
* Nearby Gap(s): 8,410.
Copper
BUY COPPER ABOVE 1347 SL BELOW 1340 TGT 1357/1364.
* Nearby Support: 1,331/ 1,321/ 1,212
* Nearby Resistance: 1,347/ 1,355/ 1,363
* Open Gap(s): NONE.
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
