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Jan 21, 2025

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold price opens today's trading with a noticeable positivity to resume the main upward trend, waiting to test the upward levels that rise to 2742.00.

Note that breaking the 2693.00 levels will stop the upward trend and push the price to start a downward correction with its first target at 2672.00.

Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
2738.65
2734.77
2732.40
2728.60
2724.64
2722.10
2718.05

USOIL chart on the hourly time frame

USOIL chart on the hourly time frame

Oil price found strong support at the first correction level 77.53, to start providing positive trades with the opening of the day, but we will rely on the closing of the last daily candle below this level to suggest the continuation of the downward corrective trend in the short term, waiting to visit the 75.53 level as a next negative target.

Therefore, we are waiting for negative trades during the upcoming sessions, noting that breaching 78.25 will stop the downward wave and lead the price to resume the main upward trend again.

Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
76.540
76.453
76.399
76.315
76.235
76.186
76.097

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