XAU/USD (GOLD):
The XAU/USD chart currently exhibits bullish momentum, with the potential scenario of a bullish continuation towards the 1st resistance.
The 1st support at 1812.52 is considered significant as it’s identified as a swing low support. Additionally, the 2nd support at 2804.69 appears to be an erroneous value; please verify and provide the correct level if needed.
On the resistance side, the 1st resistance level at 1855.66 is characterized as a pullback resistance, and beyond this, the 2nd resistance at 1884.64 is identified as an overlap resistance and coincides with the 50% Fibonacci Retracement level.
WTI/USD:
The WTI chart currently shows an overall bearish momentum but there is a potential for price to make a short-term bullish bounce towards the intermediate resistance before resuming the downturn.
The intermediate resistance level at 83.15 is identified as a pullback resistance while the 1st resistance level at 84.05 is also identified as a pullback resistance that aligns with the 23.60% Fibonacci retracement level. Additionally, the 2nd resistance level at 85.53 is noted as an overlap resistance.
To the downside, the 1st support level at 81.29 is identified as an overlap support that aligns with the 78.60% Fibonacci retracement level. Further below, the 2nd support level at 78.09 is marked as a pullback support that aligns close to the 61.80% Fibonacci retracement level.
