Sell Gold Below 141800 SL ABOVE 142700 TGT 140300/139000 - Axis Securities Ltd
Macro
• Gold prices fell toward $4,000 an ounce on Friday, nearing a three-month low as a sharp selloff in technology and AI stocks triggered broader market volatility. Investors sold gold to raise cash and cover losses in other assets, adding pressure on bullion.
• Silver prices dropped to around $54 an ounce, hitting their lowest levels since Nov’25. The decline reflected heavy selling pressure across financial markets, as investors reduced their exposure to precious metals amid mounting losses in technology shares and weakening risk sentiment.
• Brent crude climbed above $114 per barrel, approaching its four-year high of $114.44 reached on 4th May. Escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran heightened concerns over further supply disruptions in the Middle East.
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 141800 SL ABOVE 142700 TGT 140300/139000.
* Nearby Support: 1,41,800/ 1,40,000/ 1,38,500
* Nearby Resistance: 1,43,000/ 1,45,000/ 1,46,500
* Nearby Gaps: 1,43,000.
Silver
SELL SILVER BELOW 192500 SL ABOVE 196000 TGT 187000/183000.
* Nearby Support: 1,92,500/ 1,87,000/ 1,82,000
* Nearby Resistance: 1,98,500/ 2,03,000/ 2,07,000
* Nearby Gaps: 2,00,000.
Crude Oil
BUY CRUDEOIL ABOVE 9620 SL BELOW 9520 TGT 9780/9880.
* Nearby Support: 9,490/ 9,360/ 9,200
* Nearby Resistance: 9,620/ 9,780/ 9,950
* Nearby Gap(s): 9,484.
Copper
BUY COPPER ABOVE 1382 SL BELOW 1374 TGT 1393/1400.
* Nearby Support: 1,369/ 1,358/ 1,350
* Nearby Resistance: 1,382/ 1,394/ 1,402
* Open Gap(s): 1,369.20.
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