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Dec 31, 2024

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold price continues to decline to test the 2600.00 barrier, waiting to break this level to confirm opening the way to head towards our next main target at 2555.00.

Therefore, we continue to favor the downward trend for the coming period, noting that breaking 2640.00 will stop the downward wave and push the price to achieve new gains that start by visiting the 2700.00 areas.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
2620.77
2618.88
2617.64
2615.67
2613.83
2612.73
2610.71
USOIL chart on the hourly time frame

USOIL chart on the hourly time frame

Oil price is providing additional positive trading to approach our expected target at 72.15, and we believe that the way is open to exceed this level to achieve additional gains reaching 73.70 in the near term.

Therefore, we continue to favor the upward trend for the coming period unless the 70.58 level is broken and stabilized below it.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
71.470
71.391
71.338
71.255
71.178
71.127
71.049
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