Sell Silver Below 224000 SL ABOVE 228000 TGT 219000/215000 - Axis Securities Ltd
Macro
• Gold fell toward $4,100 an ounce on Tuesday, hitting a two-month low as a stronger dollar and surging Treasury yields outweighed support from softer U.S. jobs data and reduced expectations for an October Federal Reserve rate hike.
• WTI crude oil prices declined as data showed increased crude flows from the Middle East, while the Group of Seven’s decision to release emergency reserves helped ease near-term supply concerns.
• Copper futures rose to around $6.60 per pound, marking a third consecutive session of gains amid a broader rally in risk assets, led by technology and AI stocks. Copper demand also benefits from the rapid expansion of data centres and power infrastructure needed to support AI development.
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 148700 SL ABOVE 149800 TGT 147000/146000.
* Nearby Support: 1,48,700/ 1,47,000/ 1,45,500
* Nearby Resistance: 1,50,000/ 1,51,800/ 1,53,000
* Nearby Gaps: 1,49,000.
Silver
SELL SILVER BELOW 224000 SL ABOVE 228000 TGT 219000/215000.
* Nearby Support: 2,24,000/ 2,19,000/ 2,14,000
* Nearby Resistance: 2,27,000/ 2,33,000/ 2,38,000
* Nearby Gaps: 2,26,000.
Crude Oil
SELL CRUDEOIL BELOW 8450 SL ABOVE 8550 TGT 8300/8220.
* Nearby Support: 8,450/ 8,300/ 8,180
* Nearby Resistance: 8,700/ 8,870/ 9,000
* Nearby Gap(s): 8,613.
Copper
BUY COPPER ABOVE 1417 SL BELOW 1410 TGT 1427/1433.
* Nearby Support: 1,411/ 1,400/ 1,390
* Nearby Resistance: 1,417/ 1,429/ 1,438
* Open Gap(s): 1,410.50.
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