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Feb 04, 2026

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold continues to recover from a sharp low and is currently trading below a key downtrend line, indicating that the current move is still corrective. A weaker dollar has contributed to the rebound, but the momentum has not yet fully turned bullish.
The MACD indicator is showing a clear positive reversal after a strong oversold period.

General Trend: Neutral
Support: 4720 – 4650
Resistance: 5060 – 5180

Expectation: A break above the descending trendline near 5060 could confirm a bullish shift, while failure to do so will keep trading sideways.
 

 
USOIL Chart on the hourtly time frame

USOIL Chart on the hourly time frame

Oil is moving in a sideways range with an upward bias after bouncing from strong support levels, supported by a balance between economic concerns and stable demand. The price is holding above the short-term moving averages.
The MACD indicator is in positive territory, but without strong momentum acceleration.

General Trend: Neutral with an upward bias
Support: 62.10 – 61.30
Resistance: 64.20 – 65.50

Expectation: A break above 64.20 could push prices towards 65.50, while a break below 62.10 would bring renewed pressure towards 61.30.
 

 
USTEC chart on the hourly time frame

USTEC chart on the hourly time frame

The index is moving near historical highs with a slowdown in upward momentum, resulting from profit-taking after a strong rally. The overall trend remains positive, but volatility is likely to increase.
The MACD indicator is positive but shows a gradual decline in strength.

General Trend: Cautiously Upward
Support: 24,950 – 24,400
Resistance: 25,600 – 26,000

Expectation: Holding above 24,950 supports the continuation of the upward trend, while a break below this level could lead to a wider correction.
 

 
US30 chart on the hourly time frame

US30 chart on the hourly time frame

The index continues to trade above key support levels, supported by stable risk appetite in the markets. The current movement tends to consolidate after a strong rally.
The MACD indicator remains positive, but lacks strong momentum.

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

Expectation: A break above 49,800 strengthens the chances of new highs, while any break below 48,700 could trigger a limited correction.
 

- A look at yesterday report dated Feb 3, 2025.

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