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Daily Markets
- Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. Oil prices dropped almost 4% on Wednesday, extending sharp losses from the previous session with recession fears overshadowing a bigger-than-expected fall in U.S. crude inventories New orders for key U.S.-manufactured capital goods fell more than expected in March and shipments declined, indicating that depressed business spending on equipment likely pulled back economic growth in the first quarter. OPEC's share of India's oil imports fell at the fastest pace in 2022/23 to its lowest in at least 22 years as its intake of cheaper Russian oil surged, while China is also ramping up buying of Russia's Urals oil Oil loading from Russia's western ports in April will be the highest since 2019, above 2.4 million barrels per day, despite Moscow's pledge to cut output.
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Intraday RESISTANCE LEVELS |
27th April 2023 |
R1 |
R2 |
R3 |
GOLD-XAU |
2,009-2,020 |
2,039-2,048 |
2,058-2,069 |
Silver-XAG |
25.90-26.30 |
26.90 |
27.50-27.90 |
Crude Oil |
75.00-76.05 |
76.70-77.30 |
78.00-79.60 |
EURO/USD |
1.1050 |
1.1090–1.1150 |
1.1200-1.1250 |
GBP/USD |
1.2490-1.2545 |
1.2600 |
1.2640-1.2745 |
USD/JPY |
134.00-134.90 |
135.50-136.00 |
137.00-137.90 |
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Intraday SUPPORTS LEVELS |
27th April 2023 |
S1 |
S2 |
S3 |
GOLD-XAU |
1,990-1,981 |
1,969 |
1,959-1,950 |
Silver-XAG |
25.00-24.60 |
24.00-23.50 |
22.60-22.05 |
Crude Oil |
74.10-73.50 |
72.40 |
71.50-70.80 |
EURO/USD |
1.0990-1.0950 |
1.0900-1.0810 |
1.0750-1.0700 |
GBP/USD |
1.2447-1.2400 |
1.2320–1.2250 |
1.2200-1.2152 |
USD/JPY |
132.90-132.20 |
131.10 |
130.60-130.00 |
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Intra-Day Strategy (27th April 2023) |
GOLD-XAU |
Sell on Strength |
Silver-XAG |
Buy on Dips |
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Crude Oil |
Neutral to Sell |
EUR/USD |
Neutral to Sell |
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GBP/USD |
Neutral to Buy |
USD/JPY |
Neutral to Sell |
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Gold – XAU
Gold on Wednesday made it’s intraday high of US$2008.90/oz and low of $1938.22/oz. Gold is up by 0.384% at US$1989.14/oz.
Technicals in Focus:
In daily charts, prices are above 200DMA (1809) and breakage below will call for 1790. MACD is above the zero line and histograms are a2lso increasing trend and it will bring an upward stance in the upcoming sessions. RSI is in the overbought region and more upside is expected before it gets stretched. The Stochastic Oscillator is in neutral territory and giving a negative crossover to a bearish stance for intraday trade.
Trading Strategy: Sell on Strength
Sell below 2000-2080 keeping stop loss closing above 2080, targeting 2009-1994 and 1981-1969-1950.
Buy in between 1994-1959 with risk below 1959, targeting 2009-2,020-2,034 and 2,050-2,058-2,069-2,080.
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Intraday Support Levels |
S1 |
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1,990-1,981 |
S2 |
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1,969 |
S3 |
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1,959-1,950 |
Intraday Resistance Levels |
R1 |
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2,009-2,020 |
R2 |
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2,039-2,048 |
R3 |
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2,058-2,069 |
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Technical Indicators
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Name |
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Value |
Action |
14DRSI |
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51.975
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Buy |
20-DMA |
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1983.84 |
Buy |
50-DMA |
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1937.74
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Buy |
100-DMA |
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1888.94 |
Buy |
200-DMA |
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1847.04 |
Buy |
STOCH(5,3) |
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20.134 |
Buy |
MACD(12,26,9) |
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20.03 |
Buy |
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Silver - XAG
Silver on Wednesday made its intraday high of US$25.21/oz and low of US$25.21/oz settled down by 0.520% at US$24.86/oz.
Technicals in Focus:
On daily charts, silver is sustaining below 100DMA (21.00), breakage above will lead to 21.60. MACD is below the zero line and histograms are decreasing trend and it will bring a bearish stance in the upcoming sessions. RSI is approaching the neutral region, indicating a buy signal for now. The Stochastic Oscillator is in the oversold region and gives a positive crossover to show an upside move for the intraday trade.
Trading Strategy: Buy on Dips
Buy in between 25.00-18.30, targeting 25.00-25.90-26.30 and 26.90-27.50 with stop loss should be placed on the breakage below 18.00.
Sell in between 25.90-27.50 with a stop loss above 27.50; targeting 25.00-24.60-23.60-23.00 and 22.05-21.60-21.00.
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Intraday Support Levels |
S1 |
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25.00-24.60 |
S2 |
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24.00-23.50 |
S3 |
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22.60-22.05 |
Intraday Resistance Levels |
R1 |
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25.90-26.30 |
R2 |
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26.90 |
R3 |
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27.50-27.90 |
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TECHNICAL INDICATORS |
Name |
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Value |
Action |
14DRSI |
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78.817 |
Buy |
20-DMA |
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23.97 |
Buy |
50-DMA |
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23.05 |
Buy |
100-DMA |
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22.52 |
Buy |
200-DMA |
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22.14 |
Buy |
STOCH(5,3) |
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90.349 |
Sell |
MACD(12,26,9) |
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0.913 |
Buy |
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Oil - WTI
Crude Ol on Wednesday made an intra‐day high of US$77.83/bbl, an intraday low of US$73.99/bbl, and settled down by 3.54% to close at US$74.31/bbl.
Technicals in Focus:
On daily charts, oil is sustaining below its 200DMA i.e. 68.50 which is a support level and breakage below will call for 68.40. MACD is above the zero line and histograms are in increasing mode will bring a bullish stance in the upcoming sessions. The Stochastic Oscillator is in the neutral region, giving a positive crossover for confirmation of a bullish stance; while the RSI is in the neutral region and more upside can be expected to reach the overbought region, which is highly probable.
Trading Strategy: Neutral to Sell
Sell in between 75.00-84.40 with stop loss at 84.40; targeting 74.10-73.50-72.40 and 71.50-70.80.
Buy above 74.10-70.80 with risk daily closing below 70.80; targeting 75.00-76.05-76.70 and 77.30-78.00-79.60.
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Intraday Support Levels |
S1 |
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74.10-73.50 |
S2 |
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72.40 |
S3 |
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71.50-70.80 |
Intraday Resistance Levels |
R1 |
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75.00-76.05 |
R2 |
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76.70-77.30 |
R3 |
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78.00-79.60 |
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TECHNICAL INDICATORS |
Name |
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Value |
Action |
14DRSI |
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41.238 |
Sell |
20-DMA |
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77.57 |
Buy |
50-DMA |
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77.09 |
Sell |
100-DMA |
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78.23 |
Sell |
200-DMA |
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81.34 |
Sell |
STOCH(5,3) |
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9.420 |
Buy |
MACD(12,26,9) |
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0.131 |
Buy |
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EUR/USD
EUR/USD on Wednesday made an intraday low of US$1.0963/EUR, a high of US$1.1094/EUR, and settled the day down by 0.617% to close at US$1.1039/EUR.
Technicals in Focus:
On daily charts, prices are sustaining above 50DMA (1.0736), which becomes immediate support, a break below will target 1.0647. MACD is above the zero line and histograms are increasing mode which will bring a bullish view. Stochastic is in overbought territory and giving positive crossovers to the bullish outlook for intraday. 14D RSI is currently in a neutral region and giving no directions to consider right now.
Trading Strategy: Neutral to Sell
Sell below 1.0990-1.1250, targeting 1.0990-1.0960-1.0900 and 1.0810-1.0750-1.0700 with stop-loss at daily closing above 1.1032.
Buy above 1.0950-1.0525 with risk below 1.0525 targeting 1.1030-1.1090-1.1150 and 1.1200-1.1250.
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Intraday Support Levels |
S1 |
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1.0990-1.0950 |
S2 |
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1.0900-1.0810 |
S3 |
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1.0750-1.0700 |
Intraday Resistance Levels |
R1 |
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1.1050 |
R2 |
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1.1090–1.1150 |
R3 |
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1.1200-1.1250 |
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TECHNICAL INDICATORS |
Name |
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Value |
Action |
14DRSI |
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61.091 |
Buy |
20-DMA |
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1.0934 |
Sell |
50-DMA |
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1.0832 |
Buy |
100-DMA |
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1.0711 |
Buy |
200-DMA |
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1.0630 |
Buy |
STOCH(5,3) |
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85.658 |
Buy |
MACD(12,26,9) |
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0.0639 |
Buy |
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GBP/USD
GBP/USD on Tuesday made an intra‐day low of US$1.2385/GBP, a high of US$1.2506/GBP, and settled the day up 0.542% to close at US$1.2406/GBP.
Technicals in Focus:
On daily charts, prices are sustaining below 200DMA (1.2112) is becoming a resistance level. 14-D RSI is currently in a neutral region and direction is difficult to predict on RSI bases. The Stochastic Oscillator is in oversold territory and gives a positive crossover to confirm bullish a stance. MACD is above the zero line but histograms are increasing leading to movement.
Trading Strategy: Neutral to Buy
Based on the charts and explanations above; buy in between 1.2445-1.2200 with a target of 1.2490-1.2545 and 1.2600-1.2640-1.2745 with a stop loss closing below 1.2200.
Sell in between 1.2545-1.2745 with targets at 1.2450-1.2400-1.2340 and 1.2240-1.2200-1.2170 with stop loss should be 1.2745.
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Intraday Support Levels |
S1 |
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1.2447-1.2400 |
S2 |
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1.2320–1.2250 |
S3 |
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1.2200-1.2152 |
Intraday Resistance Levels |
R1 |
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1.2490-1.2545 |
R2 |
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1.2600 |
R3 |
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1.2640-1.2745 |
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TECHNICAL INDICATORS |
Name |
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Value |
Action |
14DRSI |
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79.863
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Buy |
20-DMA |
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1.2402 |
Buy |
50-DMA |
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1.2292 |
Buy |
100-DMA |
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1.2185 |
Buy |
200-DMA |
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1.2179 |
Buy |
STOCH(5,3) |
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79.311 |
Buy |
MACD(12,26,9) |
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0.0060 |
Sell |
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USD/JPY
USD/JPY on Wednesday made an intra‐day low of JPY133.00/USD and made an intraday high of JPY133.93/USD and settled the day down by 0.0523% at JPY133.64/USD.
Technicals in Focus:
In daily charts, JPY is sustaining above 200DMA (134.05), which is major support on the daily chart. 14-D RSI is currently in the overbought region and chances of downward are expected based on RSI. MACD is above the zero line but histograms are in decreasing mode which might lead to downward movement. The Stochastic Oscillator is in overbought territory and signaling to buy as it has given a positive crossover to confirm a bullish stance.
Trading Strategy: Neutral to Sell
Sell below 134.00-140.60 with risk above 140.60 targeting 134.00-132.90-132.20 and 131.40-130.60-130.00.
Long positions above 132.90-130.00 with targets of 134.00-134.90-135.50 and 136.00-137.00-137.90 with stops below 130.00.
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Intraday Support Levels |
S1 |
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132.90-132.20 |
S2 |
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131.10 |
S3 |
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130.60-130.00 |
INTRADAY RESISTANCE LEVELS |
R1 |
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134.00-134.90 |
R2 |
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135.50-136.00 |
R3 |
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137.00-137.90 |
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TECHNICAL INDICATORS |
Name |
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Value |
Action |
14DRSI |
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51.159 |
Buy |
20-DMA |
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133.48 |
Buy |
50-DMA |
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133.36 |
Buy |
100-DMA |
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134.00 |
Buy |
200-DMA |
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133.72 |
Buy |
STOCH(9,6) |
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24.869 |
Buy |
MACD(12,26,9) |
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0.298 |
Sell |
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