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XAU/USD chart on the hourly time frame

Today, the first positive target at 3380 was achieved at the start of trading, while on Friday, 3350 was achieved.

General Trend:

Gold is still moving within a short-term ascending channel, showing an upward bounce from the lower channel line, indicating buying interest at support levels.

• Major Support: 3335 – 3315 (representing the lower channel line + strong horizontal support).
• Resistance: 3380 – 3400. - Higher Resistance: 3447 (previous high and channel line high).

Technical Indicators:

• The MACD indicator indicates a weakening negative momentum with the beginning of a potential positive crossover (gradually receding red bars), which could be an initial signal of the beginning of an upward wave.
• The price rebounded from dynamic support (the lower trend line), forming reversal candles that indicate buying interest.

Possible Outlook for Today:

• Positive Scenario (Likely): If the price stabilizes above 3335 and the selling momentum continues to weaken, we may witness an upward movement towards 3380 first, then 3400. A clear break of 3400 with a close may open the way for a retest of 3447.
• Negative Scenario: A clear break below 3335 will change the outlook to negative, and gold may then target the 3315 area and then 3285.

Technical Outlook for Today: A cautious buying bias as long as the price is above 3335, monitoring a break of 3380–3400 to confirm the continued upward trend.
The outlook will only turn negative upon a break of 3335 and a close below it.

USTEC chart on the hourly time frame

• General trend: Bearish sideways within a symmetrical triangle or narrow channel.
• Nearest support: 21,500 then 21,300.
• Resistance: 21,800 then 22,050.
• MACD indicator: Negative, reflecting a decline in bullish momentum.

Expectation: Continued volatility between 21,500 and 21,800. A break of 21,500 will lead to further declines, while a break of 21,800 may trigger a technical recovery.
 

US30 chart on the hourly time frame

• General trend: Upward, but approaching a strong resistance area.
• Support: 41,700 then 41,200.
• Resistance: 42,200 then 42,800.
• MACD indicator: Positive, but starting to show overbought signs.

Prediction: As long as the price remains above 41,700, the overall trend remains bullish. A break above 42,200 will support the continuation of the upward trend. A break below 41,700 could trigger a correction towards 41,200.