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Feb 05, 2026

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold is moving in a corrective range after a sharp downward move from recent highs, currently trading near the 4920 level while attempting to consolidate above a key technical support. The overall trend remains bearish in the short term, but the easing of negative momentum suggests the beginning of relative stability.

The MACD indicator shows a weakening of downward momentum without confirming a bullish reversal, keeping price movements confined within a range.

Overall trend: Neutral with a bearish bias
Support: 4880 – 4735
Resistance: 5050 – 5160

Expectation: Holding above 4880 supports attempts at a corrective bounce towards 5050, while a break below 4735 could bring back strong selling pressure.
 

 
XAG/USD chart on the hourly time frame

XAG/USD chart on the hourly time frame

Silver is moving within a corrective range after a strong upward surge, maintaining its position above key support levels. This continued consolidation reflects relatively persistent hedging demand, supported by dollar volatility.

Momentum indicators suggest relative calm without any sharp reversal signals.

Overall trend: Neutral with a slight upward bias
Support: 76.90 – 75.80
Resistance: 79.80 – 81.20

Expectation: Holding above support keeps the potential for further upward movement alive in the short term.
 

 

 

USOIL Chart on the hourtly time frame

USOIL Chart on the hourly time frame

Oil continues to trade within a weak, sideways range, lacking strong fundamental catalysts to support an upward trend. Current movements reflect market hesitancy, balanced between concerns about global demand and attempts to stabilize prices.

Technical momentum remains limited, making short-term movements susceptible to volatility.

Overall Trend: Neutral
Support: 62.80 – 61.90
Resistance: 64.60 – 65.40

Expectation: A break above 64.60 could support a limited rebound, while a break below 62.80 would reinstate negative pressure.
 

 
USTEC chart on the hourly time frame

USTEC chart on the hourly time frame

The Nasdaq is trading near all-time highs, benefiting from risk appetite for technology stocks. Despite some volatility, the technical structure remains positive as long as nearby support levels are not broken.

Overall Trend: Cautiously Upward
Support: 24650 – 24380
Resistance: 25200 – 25500

Expectation: A break above the recent high would reinforce the continuation of the upward trend.
 

 
US30 chart on the hourly time frame

US30 chart on the hourly time frame

The Dow Jones Industrial Average is moving in a steady upward trend, with investors favoring blue-chip stocks. Current pullbacks are limited and fall within the normal profit-taking range.

Overall Trend: Upward
Support: 48900 – 48350
Resistance: 49750 – 50200

Expectation: Continued trading above 48900 will maintain the positive trend.
 

- A look at yesterday report dated Feb 4, 2025.

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