GOLD

Spot gold eventually broke and closed above strong $1230 barrier (daily cloud top/50% retracement of $1337/$1122 descend) on yesterday’s strong rally that marked the biggest daily gains since Jan 17.
This generated another bullish signal after breaks above former tops at $1219 and 100SMA at $1223, for fresh bullish extension towards $1248 (50% retracement of $1375/$1122 descend).
The price is currently consolidating under fresh nearly three-month high at $1235, with daily cloud top, now reverted to strong support, generally holding dips for now.
Extended dips should ideally hold above former barriers at $1223/19, ahead of fresh push higher.
Caution on strongly overbought slow stochastic and daily RSI that turned lower just ahead of overbought territory border.
Stronger correction signal requires sustained break below $1219.

Res: 1230; 1235; 1241; 1248
Sup: 1227; 1223; 1219; 1215

US CRUDE OIL

Oil price is in red for the second day and heading towards key near-term support sat $52.10 zone, after repeated failure to sustain break above former high at $54.06.
Two-legged pullback from 02 Feb spike high at $54.32 is now pressuring $52.10 support (also Fib 61.8% of $50.89/$54.32 upleg), loss of which could trigger further acceleration lower towards next strong support at $51.83 (top of thick daily cloud, reinforced by ascending 55SMA).
Downside pressure is maintained by near-term technicals in firm bearish setup, with daily bulls are losing traction.
Broken daily Kijun-sen & Tenkan-sen lines lay at 52.96 & 53.27 respectively and offer good resistances.
Only firm break above Tenkan-sen would sideline current bearish threats.

Res: 52.96; 53.27; 53.53; 54.06
Sup: 52.10; 51.83; 51.70; 50.89

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