Sell Gold Below 137800 SL ABOVE 138800 TGT 136100/135000 - Axis Securities Ltd
Macro
• Gold prices moved lower on Tuesday, relinquishing earlier rebound gains as fresh selling pressure swept across the precious metals complex, pulling spot gold back below the $3,950-an-ounce mark.
• WTI crude oil edged higher during Asian trading hours, recovering from the prior session’s steep selloff after reports of a U.S. strike on Iran’s Qeshm Island reignited supply disruption concerns in the Middle East.
• Copper futures retreated toward $6.40 per pound, resuming their downward momentum as renewed weakness in technology stocks—fueled by persistent concerns over artificial intelligence valuations—damped risk sentiment across the industrial metal.
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
SELL GOLD BELOW 137800 SL ABOVE 138800 TGT 136100/135000.
* Nearby Support: 1,37,800/ 1,35,500/ 1,34,000
* Nearby Resistance: 1,39,500/ 1,41,500/ 1,43,000
* Nearby Gaps: 1,40,000.
Silver
SELL SILVER BELOW 175000 SL ABOVE 179000 TGT 170000/166000.
* Nearby Support: 1,75,000/ 1,70,000/ 1,65,000
* Nearby Resistance: 1,83,000/ 1,88,000/ 1,93,000
* Nearby Gaps: 1,84,000.
Crude Oil
BUY CRUDEOIL ABOVE 9400 SL BELOW 9300 TGT 9550/9630.
* Nearby Support: 9,100/ 8,960/ 8,800
* Nearby Resistance: 9,400/ 9,570/ 9,700
* Nearby Gap(s): 9,088.
Copper
SELL COPPER BELOW 1345 SL ABOVE 1355 TGT 1332/1328.
* Nearby Support: 1,345/ 1,335/ 1,323
* Nearby Resistance: 1,385/ 1,396/ 1,406
* Open Gap(s): 1,392.15.
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