Sell Gold Below 143500 SL ABOVE 144500 TGT 141900/141500 - Axis Securities Ltd
Macro
• Gold prices edged lower on Friday and were set for weekly losses as renewed U.S.-Iran military tensions fueled concerns over persistent inflation and the possibility of higher interest rates.
• Copper futures climbed to around $6.26 per pound, recovering earlier weekly losses as improving risk sentiment, supported by gains in semiconductor and artificial intelligence-related stocks, lifted demand for industrial metals.
• WTI crude oil prices eased on Friday but remained on track for weekly gains as renewed U.S.-Iran military strikes heightened geopolitical tensions and raised concerns over potential supply disruptions.
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 143500 SL ABOVE 144500 TGT 141900/141500
* Nearby Support: 1,43,500/ 1,41,500/ 1,40,000
* Nearby Resistance: 1,45,000/ 1,47,000/ 1,48,500
* Nearby Gaps: 1,45,000.
SILVER
SELL SILVER BELOW 222000 SL ABOVE 225000 TGT 217000/211000.
* Nearby Support: 2,22,000/ 2,17,000/ 2,11,000
* Nearby Resistance: 2,27,000/ 2,33,000/ 2,38,000
* Nearby Gaps: NONE.
CRUDEOIL
BUY CRUDEOIL ABOVE 6950 SL BELOW 6850 TGT 7100/7170.
* Nearby Support: 6,800/ 6,640/ 6,530
* Nearby Resistance: 6,950/ 7,100/ 7,250
* Nearby Gap(s): 7,017.
COPPER
BUY COPPER ABOVE 1304 SL BELOW 1295 TGT 1316/1322.
* Nearby Support: 1,290/ 1,280/ 1,273
* Nearby Resistance: 1,304/ 1,315/ 1,325
* Open Gap(s): NONE.
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