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Jan 30, 2026

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold is experiencing a strong downward correction after reaching historic highs, influenced by widespread profit-taking, rising US Treasury yields, and a temporary improvement in the dollar. Despite the pullback, the overall trend remains bullish as long as the price holds above key support levels, with momentum on the MACD indicator turning sharply negative.

Overall Trend: Bullish with a Deep Correction
Support: 5150 – 5050
Resistance: 5300 – 5400

Expectation: Holding support could allow for a resumption of the upward trend later, while breaking it could extend the correction to lower levels.
 

 
USOIL Chart on the hourtly time frame

USOIL Chart on the hourly time frame

Oil is moving in a moderately positive range, attempting to stabilize above key support levels, amid a balance between global demand concerns and supply management expectations.
Technical momentum remains limited but leans positive as long as the price holds above $62.50.

General Trend: Neutral with a slight upward bias
Support: 62.50 – 61.80
Resistance: 65.20 – 66.50
 

 
USTEC chart on the hourly time frame

USTEC chart on the hourly time frame

The index is under strong corrective selling pressure after failing to hold above its recent highs, amid rising US Treasury yields and renewed concerns about continued tightening of financial conditions.
Technical momentum is clearly weakening, with momentum indicators turning negative, reflecting a decline in risk appetite for technology stocks.

General Trend: Corrective Downward
Support: 25,400 – 25,000
Resistance: 26,100 – 26,500

Expectation: A break below 25,400 could deepen the correction towards 25,000, while holding above this level could allow for a limited technical rebound.
 

 
US30 chart on the hourly time frame

US30 chart on the hourly time frame

The Dow Jones is moving in a downward correction from historical highs, influenced by widespread profit-taking and a decline in upward momentum, despite relatively stable economic fundamentals.
The index remains above its key moving averages, but the weak momentum suggests a continuation of the sideways-to-downward movement in the short term.

General Trend: Neutral with a slight downward bias
Support: 48,300 – 47,900
Resistance: 49,200 – 49,600

Expectation: Holding above 48,300 could support a limited technical rebound, while a break below this level would reinforce the scenario of a deeper correction.
 

- A look at yesterday report dated Jan 29, 2025.

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