XAU/USD (GOLD):
The XAU/USD chart currently exhibits a weak bullish momentum, with a potential scenario of a bullish continuation towards the 1st resistance level should price break above the intermediate resistance level.
The intermediate resistance level at 1,863.57 is identified as a pullback resistance that aligns with the 38.20% Fibonacci retracement level while the 1st resistance level at 1,879.69 is also noted as a pullback resistance that aligns with the 50.00% Fibonacci retracement level. Higher up, the 2nd resistance level at 1,901.19 is identified as a pullback resistance, potentially acting as a barrier to further upward movement.
To the downside, the 1st support level at 1,855.44 is identified as a pullback support. Additionally, the 2nd support level at 1,829.19 is also marked as a pullback support, further reinforcing its significance as an area where price may find support.
WTI/USD:
The WTI chart currently exhibits a neutral momentum with a potential scenario for price to fluctuate between the 1st resistance and the 1st support levels.
The 1st resistance level at 85.11 is identified as a pullback resistance that aligns close to the 38.20% Fibonacci retracement level. Higher up, the 2nd resistance level at 86.97 is also noted as a pullback resistance that aligns close to the 50.00% Fibonacci retracement level, potentially acting as a barrier to further upward movement.
To the downside, the 1st support level at 83.48 is identified as a pullback support that aligns with the 50.00% Fibonacci retracement level. Additionally, the 2nd support level at 81.07 is noted as a swing-low support that aligns with the 50.00% Fibonacci retracement level, further reinforcing its significance as an area where price may find support.
