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Feb 03, 2026

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

After a sharp decline from historical highs, gold is attempting to recover from strong support levels, benefiting from easing negative momentum and a limited return of hedging demand.

The MACD indicator remains negative but is showing initial signs of a positive divergence.

General Trend: Neutral with a slight upward bias
Support: 4720 – 4550
Resistance: 4900 – 5050

Expectation: Holding above 4720 supports a rebound towards 4900, while failure could lead to a retest of deeper support levels.
 

 
USOIL Chart on the hourtly time frame

USOIL Chart on the hourly time frame

Oil continues to trade in a weak, sideways range, lacking clear catalysts to bolster the upward trend, amid concerns about global demand.
Momentum is weak and leans negative.

Overall Trend: Neutral with a slight downward bias
Support: 60.20 – 58.80
Resistance: 62.50 – 64.00

Expectation: A break above 62.50 is needed to change the outlook, while a break below 60.20 would increase selling pressure.
 

 
USTEC chart on the hourly time frame

USTEC chart on the hourly time frame

The US index continues to trade near all-time highs, consolidating and taking profits without breaking the main uptrend.

Overall Trend: Upward
Support: 25,300 – 24,900
Resistance: 26,200 – 26,600

Expectation: Holding above support will maintain positive momentum.
 

 
US30 chart on the hourly time frame

US30 chart on the hourly time frame

The index maintains a stable positive tone, supported by corporate earnings and strong sentiment.

Overall Trend: Upward
Support: 48,700 – 48,000
Resistance: 49,800 – 50,300

Expectation: Any pullback will be seen as a healthy correction as long as it remains above 48,700.
 

- A look at yesterday report dated Feb 2, 2025.

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