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XAU/USD chart on the hourly time frame

Yesterday, we expected a clear break below 3360 to return gold to the 3335 area, and gold is already on its way to 3335.00.

• Current trend: Bearish within a medium-term ascending channel.
• Nearby support: 3350, then 3330.
• Nearby resistance: 3380, then 3405.
• Technical indicators: The MACD is negative, but a balancing signal has begun, which may indicate an imminent correction.

Expectation: As long as the price remains above the 3350 support level, we may witness a bullish corrective bounce. A break above this level could open the way for a decline towards 3330.

USTEC chart on the hourly time frame

• Nearby resistance: 21793 – then 21966
• Nearby support: 21530 – then 21380

Technical indicators:

• The price is moving between two symmetrical triangle lines without a clear break yet.
• The MACD indicator is negative but shows a slowdown in downward momentum.

Prediction:

• If the price breaks the resistance level of 21793 and holds above it, we expect a rise towards 21966 and then 22050.
• If the support level of 21530 is broken, the decline may extend to 21380 and then 21150.