FX Careers

Asia – Commodities Technical Outlook and Review | 6th November 2023


The XAU/USD chart currently has a bullish overall momentum, suggesting the potential for a bullish continuation towards the 1st resistance.

The 1st support at 1981.79 is identified as an overlap support, indicating it could be a significant level where the price might find some buying interest.

The 2nd support at 1945.66 is considered a pullback support, further reinforcing its potential as a support level.

On the resistance side, the 1st resistance at 2047.23 is categorized as a multi-swing high resistance, suggesting it could act as a level where the price may face selling pressure.



The WTI chart currently exhibits an overall bearish momentum. However, there is a potential for price to make a bullish continuation towards the 1st resistance before resuming the downturn.

The 1st resistance level at 82.29 is noted as an overlap resistance.

To the downside, the 1st support level at 77.48 is identified as an overlap support. Additionally, the 2nd support level at 73.84 is also marked as an overlap support, reinforcing a potential support zone.