wp-emoji-styles => 
wp-block-library => /wp-includes/css/dist/block-library/style.min.css
classic-theme-styles => 
global-styles => 
wp-pagenavi => https://www.startrader.com/wp-content/plugins/wp-pagenavi/pagenavi-css.css
addtoany => https://www.startrader.com/wp-content/plugins/add-to-any/addtoany.min.css
jquery => 
addtoany-core => https://static.addtoany.com/menu/page.js
addtoany-jquery => https://www.startrader.com/wp-content/plugins/add-to-any/addtoany.min.js
Icon close

The Rise Of STARTRADER

One Of The
World’s Fastest Growing Brokerage

The Rise Of STARTRADER

One Of The
World’s Fastest Growing Brokerage

Today Technical Analysis: Precious Metals Continue Their Declines as Gold Falls Below $4,600

February 2, 2026, 08:16

recious Metals Continue Their Declines as Gold Falls Below $4,600

Brent Technical Analysis

Brent is experiencing a sharp intraday selloff, trading at around $66.60 after breaking lower from the $70–$71 resistance zone. The short term structure has shifted bearish, as price has produced a sequence of strong bearish candles. The rejection from the $71.10 highs marks a failed continuation move.

Price has broken below the three moving averages, MA(5), MA(10), and MA(30), all of which have turned lower. This alignment suggests that rallies toward the $67.80–$68.50 area are likely to face selling pressure.

MACD is expanding negatively, and the MACD line is accelerating below the signal line and below the zero level. This indicates increasing downside momentum. The $65.80–$66.00 area is the next key support zone, and unless price quickly reclaims the $68.50 level, the intraday outlook remains bearish.

Brent 1H Chart

Brent 1H Chart 2-2-2026
Resistance$66.91$67.38$68.00
Support$65.28$64.39$64.05

Gold Technical Analysis

Gold is undergoing a violent correction, trading near $4,400 after collapsing from the 5,600 region. The short term structure has flipped firmly bearish, with price breaking multiple support levels in quick succession.

The moving averages reflect this shift clearly. Price is now well below the moving averages MA(5), MA(10), and MA(30) with all three sloping downward.

MACD is deeply negative and still expanding, while the MACD line continues to diverge lower below the signal line. From a technical perspective, the $4,400–4,450 area is a critical support zone to monitor, but until momentum stabilizes, the bias remains bearish on the 1-hour timeframe.

Gold 1H Chart

Gold 1H Chart 2-2-2026
Resistance$4,645$4,715$4,778
Support$4,403$4,376$4,309

Bitcoin Technical Analysis

Bitcoin is trading near $76,400 after extending its downtrend from the $90,600 highs. The short term structure remains bearish, with price consistently printing lower highs and lower lows and failing to sustain any meaningful recovery attempts. The recent breakdown below the $78,000 level reinforces the bearish continuation scenario.

Price remains below the three moving averages MA(5), MA(10), and MA(30), all of which are aligned bearishly and sloping downward.

MACD remains below the zero line, although downside momentum is starting to moderate slightly. This hints at short term stabilization but not yet a reversal. The $74,500–$75,000 zone is the next key support area, and unless Bitcoin can reclaim and hold above $80,000, the intraday bias remains largely bearish.

Bitcoin 1H Chart

Bitcoin 1H Chart 02-02-2026
Resistance$78,091$78,368$79,151
Support$75,436$74,545$73,805
Open Live Account

Start trading with A globally leading broker

Want to start trading?

STARTRADER

Online Trading App

Online App Score
Install
Customer Service
Customer Service
Customer Service
Customer Service