Chart the Market (08/05/2025)

GOLD_, H1:

Gold prices are trending lower after a decisive breakout below both the short- and long-term moving average (MA) lines, suggesting increasing bearish pressure. The price is currently approaching the key support level at 3365.00.

The MACD is showing rising bearish momentum, and the RSI is at 46, reinforcing a bearish bias as it remains below the 50 midline. A successful breakdown below 3365.00 could confirm a double bearish breakout (MA + support), paving the way for further downside toward the next support at 3285.00.

However, if the support at 3365.00 holds, the price may consolidate within a tight range between 3385.00 (resistance) and 3365.00 (support) before a clearer direction emerges.

🔹 Resistance Levels: 3430.00, 3480.00
🔹 Support Levels: 3365.00, 3285.00

Crude Oil, H4: 

Crude oil prices are trading higher after rebounding from key support, showing signs of renewed bullish momentum. The MACD has formed a golden cross (MACD line crossing above the signal line), while the histogram shows ongoing bullish acceleration.

Additionally, the RSI has bounced from oversold territory and is now at 48, suggesting a slight bullish tilt as sentiment begins to recover. If bullish momentum sustains, the price could challenge the next resistance level at 60.05, and a breakout there would open the path toward 61.80.

On the flip side, if the price fails to breach resistance, we may see a pullback toward 57.65, with the next support at 55.80 acting as a key floor.

🔹 Resistance Levels: 60.05, 61.80

🔹 Support Levels: 57.65, 55.80