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Jan 05, 2026

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold is showing a technical recovery attempt after bouncing off a strong support area near 4310, benefiting from short covering. The MACD indicator has started to gradually improve, but the overall trend remains corrective below the key resistance.

Overall trend: Corrective within a long-term uptrend
Support: 4310 – 4260
Resistance: 4405 – 4480

Expectation: Continued trading above 4310 supports a recovery towards 4405, but failure to break through this level could bring back selling pressure.
 
USOIL Chart on the hourtly time frame

USOIL Chart on the hourly time frame

Oil is moving sideways with a downward bias, influenced by uncertainty surrounding global demand, with weak technical momentum. Prices remain below key resistance levels.

General Trend: Sideways with a downward bias
Support: 56.20 – 55.00
Resistance: 58.00 – 59.40

Expectation: A break below 56.20 could push towards 55.00, while oil needs to break above 58.00 to confirm improved sentiment.
 
USTEC chart on the hourly time frame

USTEC chart on the hourly time frame

The index is undergoing a corrective wave after reaching strong highs, with continued caution surrounding technology stock valuations. Trading remains above a key support level, but the upward momentum has clearly weakened.

Overall Trend: Corrective
Support: 25200 – 24850
Resistance: 25800 – 26050

Expectation: Holding above 25200 could allow for a technical rebound, while a break below it would deepen the correction towards 24850.
 
US30 chart on the hourly time frame

US30 chart on the hourly time frame

The index is showing relatively positive resilience compared to other indices, supported by industrial and defensive stocks. Momentum is balanced without any sharp signs of weakness.

Overall Trend: Neutral with a slight upward bias
Support: 47900 – 47550
Resistance: 48650 – 49000

Expectation: Holding above 47900 supports a potential resumption of the upward trend, while a break below it could open the door for a deeper correction.
 

- A look at last week report dated Jan 2, 2025.

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