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Macro

• Gold prices slipped on Wednesday after rallying more than 2% in the previous session, as higher oil prices raised inflation concerns and clouded the U.S. interest-rate outlook. Fed officials welcomed softer June inflation but said more evidence is needed before considering policy easing.

• Copper futures climbed above $6.30 per pound to a three-week high as Chile's output declined due to water shortages, lower ore grades, maintenance, and labour disruptions.

• WTI crude oil gained around 2% after President Donald Trump reimposed a naval blockade on Iranian ports, while fresh threats from Iran heightened supply concerns.

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 140700 SL ABOVE 141500 TGT 139500/138500.

* Nearby Support: 1,40,700/ 1,39,000/ 1,37,000

* Nearby Resistance: 1,41,800/ 1,43,500/ 1,45,000

* Nearby Gaps: 1,42,000.

SILVER

SELL SILVER BELOW 220000 SL ABOVE 224000 TGT 215000/211000.

* Nearby Support: 2,20,000/ 2,15,000/ 2,08,000

* Nearby Resistance: 2,23,500/ 2,28,000/ 2,34,000

* Nearby Gaps: 2,23,000.

CRUDEOIL

BUY CRUDEOIL ABOVE 7800 SL BELOW 7700 TGT 7980/8100.

* Nearby Support: 7,650/ 7,500/ 7,350

* Nearby Resistance: 7,800/ 7,980/ 8,100

* Nearby Gap(s): 7,584.

COPPER

BUY COPPER ABOVE 1318 SL BELOW 1310 TGT 1329/1335.

* Nearby Support: 1,305/ 1,294/ 1,285

* Nearby Resistance: 1,318/ 1,327/ 1,338

* Open Gap(s): 1,308.90.

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