Buy Gold Above 152000 SL BELOW 151000 TGT 153400/154300 - Axis Securities Ltd
Macro
• Gold prices rose in Asian trading on Friday, as a softer U.S. dollar and declining Treasury yields boosted bullion’s appeal, while investors weighed persistent inflation risks from higher oil prices.
• WTI crude oil prices declined as easing concerns over Middle East supply disruptions weighed on markets, following U.S. President Donald Trump’s statement that no further attacks on Iran would take place before the midterm elections.
• Copper futures climbed above $6.60 per pound, recovering from the previous session’s losses as supply disruptions in top producer Chile lent support to prices.
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 152000 SL BELOW 151000 TGT 153400/154300.
* Nearby Support: 1,50,600/ 1,49,000/ 1,47,500
* Nearby Resistance: 1,52,000/ 1,53,600/ 1,55,000
* Nearby Gaps: 1,51,000.
Silver
BUY SILVER ABOVE 225500 SL BELOW 221000 TGT 230000/233000.
* Nearby Support: 2,23,500/ 2,19,000/ 2,14,000
* Nearby Resistance: 2,25,500/ 2,30,000/ 2,36,000
* Nearby Gaps: 2,21,000.
Crude Oil
BUY CRUDEOIL ABOVE 8820 SL BELOW 8710 TGT 8980/9050.
* Nearby Support: 8,700/ 8,550/ 8,400
* Nearby Resistance: 8,820/ 8,980/ 9,100
* Nearby Gap(s): 8,864.
Copper
BUY COPPER ABOVE 1425 SL BELOW 1418 TGT 1435/1442.
* Nearby Support: 1,412/ 1,401/ 1,390
* Nearby Resistance: 1,425/ 1,435/ 1,446
* Open Gap(s): 1,1407.50.
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
