Sell Silver Below 211000 SL ABOVE 215000 TGT 206000/203000 - Axis Securities Ltd
Macro
• Gold prices rose on Monday as investors scaled back expectations for another Federal Reserve rate hike this month following remarks by Chair Kevin Warsh, supporting bullion prices.
• WTI crude oil prices fell sharply as markets anticipated improved supply prospects after U.S. President Donald Trump signed an order waiving most sanctions and tariffs on Russia.
• Copper futures climbed toward $6.60 per pound, recovering from last week’s losses as stronger-thanexpected economic data from China improved demand prospects in the world’s largest copper consumer.
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 148000 SL ABOVE 149000 TGT 146500/145500.
* Nearby Support: 1,48,000/ 1,46,500/ 1,45,000
* Nearby Resistance: 1,49,000/ 1,50,800/ 1,52,000
* Nearby Gaps: 1,48,000.
Silver
SELL SILVER BELOW 211000 SL ABOVE 215000 TGT 206000/203000.
* Nearby Support: 2,11,000/ 2,06,000/ 2,01,000
* Nearby Resistance: 2,13,000/ 2,18,000/ 2,23,000
* Nearby Gaps: 2,21,000.
Crude Oil
BUY CRUDEOIL ABOVE 9600 SL BELOW 9500 TGT 9750/9820.
* Nearby Support: 9,380/ 9,200/ 9,050
* Nearby Resistance: 9,600/ 9,750/ 9,900
* Nearby Gap(s): 9,394.
Copper
SELL COPPER BELOW 1395 SL ABOVE 1403 TGT 1385/1378.
* Nearby Support: 1,395/ 1,384/ 1,374
* Nearby Resistance: 1,408/ 1,419/ 1,430
* Open Gap(s): NONE.
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