XAU/USD (GOLD):
The Gold (XAU/USD) chart currently exhibits a bullish momentum, with price trading above the bullish Ichimoku cloud. There is a potential scenario for price to make a bullish continuation towards the 1st resistance level.
The 1st resistance level at 1,984.33 is characterized as a pullback resistance that coincides with the 127.20% Fibonacci retracement level. Beyond this, the 2nd resistance level at 2,006.86 is identified as an overlap resistance, providing a strong potential resistance point.
To the downside, the intermediate support at 1,971.03 is noted as a pullback support. Additionally, the 1st support level at 1,949.45 is marked as an overlap support, indicating a potential support zone.
WTI/USD:
The WTI chart currently shows a bullish momentum, indicating a potential scenario for price to make a bullish continuation towards the 1st resistance level.
The 1st resistance level at 90.74 is identified as an overlap resistance that aligns close to the 78.60% Fibonacci retracement level. Beyond this, the 2nd resistance level at 93.55 is marked as a swing-high resistance, making it a potentially strong resistance level.
To the downside, the 1st support level at 88.46 is identified as an overlap support level. Additionally, the 2nd support level at 86.76 is also noted as an overlap support, indicating a potential support zone.
