Sell Silver Below 234500 SL ABOVE 239000 TGT 228000/223000 - Axis Securities Ltd
Macro
• Gold climbed back above $4,300 an ounce on Wednesday, ending a two-session decline as gains in oil prices and bond yields lost momentum ahead of the latest U.S. Federal Reserve policy decision.
• Brent crude fell below $108 per barrel, retreating from four-month highs after industry data showed an unexpected rise in U.S. crude inventories, despite widening supply disruptions in the Middle East.
• Nickel traded around $16,000 per tonne, falling to its lowest level since Dec’25 after Indonesia cut benchmark prices for low-grade nickel ore. The revised pricing formula has nearly halved the cost of 1.2% nickel ore.
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 151400 SL ABOVE 152500 TGT 149800/149000.
* Nearby Support: 1,51,400/ 1,49,500/ 1,47,000
* Nearby Resistance: 1,52,100/ 1,54,000/ 1,55,800
* Nearby Gaps: 1,51,000.
Silver
SELL SILVER BELOW 234500 SL ABOVE 239000 TGT 228000/223000.
* Nearby Support: 2,34,500/ 2,29,000/ 2,24,000
* Nearby Resistance: 2,36,500/ 2,41,000/ 2,46,000
* Nearby Gaps: 2,32,000.
Crude Oil
BUY CRUDEOIL ABOVE 10100 SL BELOW 10000 TGT 10240/10350.
* Nearby Support: 9,950/ 9,800/ 9,650
* Nearby Resistance: 10,100/ 10,300/ 10,480
* Nearby Gap(s): 10,209.
Copper
SELL COPPER BELOW 1367 SL ABOVE 1375 TGT 1356/1349.
* Nearby Support: 1,367/ 1,356/ 1,346
* Nearby Resistance: 1,376/ 1,386/ 1,398
* Open Gap(s): 1,365.55.
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