Sell Silver Below 222000 SL ABOVE 226000 TGT 217000/214000 - Axis Securities Ltd
Macro
• Gold prices rebounded in the last session as a weaker U.S. dollar supported bullion, although escalating Middle East tensions continued to fuel concerns over energy supply disruptions, persistent inflation and the possibility of further interest-rate hikes.
• WTI crude oil prices declined after Russia indicated that diesel exports could exceed volumes outlined in its supply agreement with the U.S., raising expectations of improved supplies. However, prices remained near recent highs as uncertainty persisted over U.S. President Donald Trump’s claims of a Russia-Ukraine ceasefire.
• Copper futures climbed toward $6.70 per pound, approaching record highs amid ongoing supply disruptions. Supply concerns intensified after two workers died on Sunday when a snow avalanche struck Codelco’s El Teniente mine in Chile, the world’s largest copper producer.
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 149300 SL ABOVE 150200 TGT 147800/147000.
* Nearby Support: 1,49,300/ 1,48,000/ 1,46,500
* Nearby Resistance: 1,50,000/ 1,51,500/ 1,53,500
* Nearby Gaps: 1,51,000.
Silver
SELL SILVER BELOW 222000 SL ABOVE 226000 TGT 217000/214000.
* Nearby Support: 2,22,000/ 2,17,000/ 2,13,000
* Nearby Resistance: 2,24,000/ 2,29,000/ 2,33,000
* Nearby Gaps: NONE.
Crude Oil
SELL CRUDEOIL BELOW 8750 SL ABOVE 8850 TGT 8600/8500.
* Nearby Support: 8,750/ 8,600/ 8,470
* Nearby Resistance: 8,870/ 9,050/ 9,200
* Nearby Gap(s): 8,980.
Copper
SELL COPPER BELOW 1418 SL ABOVE 1428 TGT 1405/1398.
* Nearby Support: 1,418/ 1,407/ 1,398
* Nearby Resistance: 1,427/ 1,438/ 1,448
* Open Gap(s): NONE.
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SEBI Registration number is INZ000161633
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