Sell Gold Below 141400 SL ABOVE 142400 TGT 140000/139000 - Axis Securities Ltd
Macro
• Gold prices retreated on Friday as a recovering U.S. dollar trimmed bullion’s post-election advance. Despite the pullback, the yellow metal retained substantial weekly gains, supported by declining Treasury yields and shifting market expectations regarding future U.S. fiscal policy.
• WTI crude oil surrendered early intraday gains and traded lower. While prices initially extended gains during Asian trading hours on reports of fresh tanker strikes in the Middle East, the crude benchmark remained on track for steep weekly losses as traders re-evaluated the trajectory of the U.S.–Israeli conflict with Iran.
• Copper futures dropped below $6.20 per pound, hitting their lowest level since early July, as mounting concerns over stricter regulatory scrutiny and pushback against AI data center projects dampened long-term demand expectations for the 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 141400 SL ABOVE 142400 TGT 140000/139000.
* Nearby Support: 1,41,400/ 1,39,500/ 1,40,000
* Nearby Resistance: 1,43,000/ 1,45,000/ 1,46,500
* Nearby Gaps: 1,44,000.
Silver
SELL SILVER BELOW 182000 SL ABOVE 186000 TGT 177000/173000
* Nearby Support: 1,82,000/ 1,77,000/ 1,73,000
* Nearby Resistance: 1,86,000/ 1,91,000/ 1,97,000
* Nearby Gaps: 1,87,000.
Crude Oil
SELL CRUDEOIL BELOW 8400 SL ABOVE 8500 TGT 8250/8150.
* Nearby Support: 8,400/ 8,200/ 8,030
* Nearby Resistance: 8,750/ 8,980/ 10,040
* Nearby Gap(s): NONE.
Copper
SELL COPPER BELOW 1325 SL ABOVE 1335 TGT 1313/1307.
* Nearby Support: 1,325/ 1,313/ 1,305
* Nearby Resistance: 1,348/ 1,357/ 1,468
* Open Gap(s): 1,351.
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