Sell Silver Below 235500 SL ABOVE 239000 TGT 231000/228000 - Axis Securities Ltd
Macro
• Gold Prices fell on Tuesday as the U.S. dollar strengthened and investors refocused on the Federal Reserve’s rate outlook following last week’s hike. Attention is now on potential U.S.-Iran talks at this week's UN General Assembly in New York.
• Brent crude fell below $100 a barrel, extending losses into a fifth session and reaching the lowest level in two weeks, after reports suggested Iran could reopen the Strait of Hormuz if the U.S. lifted its blockade of Iranian ports.
• Copper futures climbed above $6.70 per pound, marking a sixth consecutive session of gains, boosted by supply concerns after Sprott Asset Management warned that global mined output could shrink this year for the first time since 2017.
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 151500 SL ABOVE 152500 TGT 150000/149000.
* Nearby Support: 1,51,500/ 1,49,500/ 1,48,000
* Nearby Resistance: 1,53,500/ 1,55,500/ 1,57,500
* Nearby Gaps: 1,54,000.
Silver
SELL SILVER BELOW 235500 SL ABOVE 239000 TGT 231000/228000 .
* Nearby Support: 2,35,500/ 2,31,000/ 2,26,000
* Nearby Resistance: 2,41,000/ 2,46,000/ 2,51,000
* Nearby Gaps: 2,41,000.
Crude Oil
SELL CRUDEOIL BELOW 9070 SL ABOVE 9160 TGT 8930/8840.
* Nearby Support: 9,070/ 8,900/ 8,740
* Nearby Resistance: 9,500/ 9,680/ 9,800
* Nearby Gap(s): 9,223.
Copper
BUY COPPER ABOVE 1419 SL BELOW 1411 TGT 1429/1435.
* Nearby Support: 1,408/ 1,399/ 1,390
* Nearby Resistance: 1,420/ 1,430/ 1,439
* Open Gap(s): NONE.
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
