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Today Technical Analysis: Oil Prices Extend Gains As Brent Nears The $80 Mark, USD Strengthens Further

March 3, 2026, 07:29

Oil Prices Extend Gains As Brent Nears The $80 Mark, USD Strengthens Further

Gold Technical Analysis

Gold maintains its strong uptrend as seen on the daily and hourly chart. However, after breaking above $5,400, price entered a corrective phase. The initial pullback was sharp, followed by a recovery attempt that failed to make new highs.

The short term moving average MA(5) has crossed below MA(10). Price is testing the area near the longer term MA(30) which is still rising but beginning to lose slope. This indicates that while the broader structure remains biased to the upside, short term momentum has weakened.

MACD line crossed below the signal line. Momentum has shifted negative, confirming that the current phase is corrective.

Immediate support sits around $5,300, followed by $5,250 and the $5,200–$5,220 breakout base. A break below $5,250 would suggest a deeper retracement toward MA(30) and prior consolidation. Conversely, a strong reclaim of $5,400 would reestablish bullish continuation potential.

Gold 1H Chart

Gold 1H Chart 3-3-2026
Resistance$5,375$5,420$5,455
Support$5,259$5,213$5,166

EURUSD Technical Analysis

EURUSD is showing a clear bearish breakdown structure since the market open this week. The pair formed a series of lower highs and then accelerated downward, breaking below the 1.1700 support region. The current price action around 1.1660 reflects sustained downside pressure.

The moving averages are fully bearishly aligned. MA(5) is below the MA(10) and both are below the MA(30), which is now sloping downward. Price remains below all three moving averages, confirming strong short-term trend control by sellers.

MACD supports the bearish momentum profile. The MACD line remains below the signal line and in negative territory.

Key resistance lies at 1.1700–1.1720 , followed by 1.1750. Immediate support is near 1.1650, with a break lower potentially opening a move toward 1.1600. Only a sustained recovery above 1.1750 would suggest structural stabilization.

EURUSD 1H Chart

EURUSD 1H Chart 03-03-2026
Resistance1.17061.17241.1747
Support1.16331.16121.1579

Dow Jones Technical Analysis

On the hourly chart of Dow Jones, momentum is shifting bearish. The selloff extended toward 48,148 before a rebound attempt, but that bounce failed to reclaim prior highs, confirming weakening bullish control.

The moving averages reflect this transition. MA(5) crossed below MA(10) during the breakdown, and both are now trading beneath MA(30), which is acting as dynamic resistance. The recent bounce stalled beneath this level, reinforcing seller dominance.

MACD confirms bearish pressure. After a brief bullish recovery phase, the MACD line has crossed back below the signal line. Momentum is not at extreme levels but is tilting bearish, suggesting downside continuation risk.

Key resistance sits at 48,900–49,100. Immediate support is around 48,400–48,150. A clean break below 48,150 would likely open the path toward 47,800. A sustained reclaim above 49,100 would weaken the short term bearish structure.

Dow Jones 1H Chart

Dow Jones 1H Chart 03-03-2026
Resistance48,66448,89049,071
Support48,36448,12348,000
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