Commodity Evening Insights 28 May 2025 by Axis Securities
What’s Driving Prices
Macro
* Gold futures rose slightly in the last session, staging a partial recovery ahead of the Federal Reserve meeting minutes due later today. Investors are also awaiting Friday’s PCE inflation data for policy cues.
* Oil prices traded choppily amid the threat of more sanctions on Russia. A stronger U.S. dollar weighed on prices Tuesday, as markets remained cautious ahead of Saturday’s OPEC output meeting.
Reading the Charts
Panel One
* 15 min 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 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 95,730
BUY GOLD ABOVE 95900 SL BELOW 95400 TGT 96500/96800
* Nearby Support: 95,000/ 94,600/ 94,100
* Nearby Resistance: 95,900/ 96,300/ 96,800
* Nearby Gaps: 94,841
* Nearby Camarilla Levels: 95,500 (S), 95,900 (R)
Silver 98,030
BUY SILVER ABOVE 98200 SL BELOW 97500 TGT 99100/99700
* Nearby Support: 97,700/ 96,900/ 96,000
* Nearby Resistance: 98,200/ 99,000/ 99,800
* Nearby Gaps: 97,715
* Nearby Camarilla Levels: 97,800 (S), 98,200 (R)
Crude 5,236
SELL CRUDEOIL BELOW 5210 SL ABOVE 5280 TGT 5120/5050
* Nearby Support: 5,210/ 5,160/ 5,100
* Nearby Resistance: 5,270/ 5,340/ 5,400
* Nearby Gap(s): 5,191
* Nearby Camarilla Levels: 5,210 (S), 5,270 (R)
Copper 866.50
BUY COPPER ABOVE 868 SL BELOW 864 TGT 873/877
* Nearby Support: 862/ 857/ 852
* Nearby Resistance: 868/ 872/ 877
* Open Gap(s): NONE
* Nearby Camarilla Levels: 865 (S), 868 (R)
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