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Macro

• Spot gold stabilised in Asian trading on Monday following a sharp weekly decline of over 4%. Market participants remained cautious, weighing the inflationary impact of elevated energy prices against expectations for the Federal Reserve’s upcoming interest rate decision.

• West Texas Intermediate (WTI) crude traded lower as diplomatic initiatives aimed at de-escalating the conflict involving the United States, Israel, and Iran helped ease immediate supply disruption fears. However, downside momentum remained limited as ongoing Houthi strikes targeting Saudi infrastructure kept geopolitical risk premiums intact.

• Copper futures languished below $6.50 per pound, hovering near multi-week troughs. Broad risk aversion, partly driven by lingering volatility and sentiment headwinds across the artificial intelligence and tech sectors, continued to weigh on demand prospects for the bellwether industrial metal.

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 142000 SL ABOVE 143000 TGT 140500/139700.

* Nearby Support: 1,42,000/ 1,40,500/ 1,38,500

* Nearby Resistance: 1,43,100/ 1,45,000/ 1,46,500

* Nearby Gaps: 1,43,000.

Silver

SELL SILVER BELOW 194500 SL ABOVE 198000 TGT 189000/186000.

* Nearby Support: 1,94,500/ 1,89,000/ 1,84,000

* Nearby Resistance: 1,97,500/ 2,02,000/ 2,07,000

* Nearby Gaps: 2,00,000.

Crude Oil

SELL CRUDEOIL BELOW 9570 SL ABOVE 9670 TGT 9410/9350.

* Nearby Support: 9,570/ 9,460/ 9,360

* Nearby Resistance: 9,710/ 9,880/ 10,000

* Nearby Gap(s): 9,800.

Copper

BUY COPPER ABOVE 1393 SL BELOW 1385 TGT 1404/1411.

* Nearby Support: 1,377/ 1,365/ 1,355

* Nearby Resistance: 1,393/ 1,404/ 1,415

* Open Gap(s): NONE.

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