Gold has seen a fresh surge following a strong buying wave driven by global economic concerns and a weaker dollar. The precious metal faces significant resistance at $3,150, which could limit the uptrend in the near term. If gold breaks through this resistance, we could see an extension towards $3,170. In the event of a correction, the key support at $3,100 could represent a major rebound point.
Forecast: The uptrend remains intact, but any stability below $3,100 could lead to further corrections towards $3,080.
Resistance 3
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
Support 3
3136.98
3133.00
3130.47
3126.40
3122.60
3119.89
3116.18
USOIL chart on the hourly time frame
After a strong upward trend, oil prices retreated slightly today, influenced by profit-taking and expectations of increased supply in the market. The price faces resistance at $70.50, where selling pressure may emerge if this level is not breached. Conversely, key support remains at $68.50, and a break below it could send the price towards $67.80.
Forecast: The overall trend is positive, but the possibility of a correction remains, especially with anticipation of US inventory data and geopolitical developments.
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