I. News Events
Houthi-Saudi Clashes Continue to Escalate
Houthi forces released footage displaying captured battlefield armored vehicles and claimed new drone and missile strikes targeting Yanbu, a major Saudi energy port on the Red Sea, as well as a southern air base. Meanwhile, Saudi forces were reported to have carried out hundreds of airstrikes across Yemen. Consequently, the United States tightened travel warnings for Saudi Arabia, barring government personnel from traveling within 20 miles of the Yemeni border.
Trump Expresses Truce Hopes and Plans Meeting with Gulf Leaders
US President Donald Trump told media that he hopes the seven-month conflict is nearing its end, claiming Washington has received direct messages from Iran. Reports indicate Trump intends to hold meetings with Gulf leaders and foreign ministers—including representatives from Saudi Arabia, the UAE, and Qatar—on the sidelines of the upcoming UN General Assembly to discuss forward strategy.
Saudi Arabia Adds Energy Supply, Prompting Temporary Price Pullback
Market sources reported that Saudi Arabia supplied additional spot primary energy via Oman. This measure effectively alleviated market anxieties over regional supply outages, driving global benchmark energy futures down by more than 1% from highs of $108.
II. 30-Minute Chart Technical Analysis
As of 16:30, spot gold traded at $4,314.43/oz, up 1.20% ($51.00) intraday.
Within the moving average framework, following a hundred-dollar oversold snapback, short-cycle moving averages have repaired swiftly. The current MA20 ($4,308.95) and MA30 ($4,297.96) completed a golden cross at lower levels and turned sharply upward, forming a highly robust dynamic bullish cushion for the session. Price action is advancing steadily along these moving averages, attempting to overcome minor overhead resistance at the MA1 ($4,319.59).
III. 30-Minute Technical Indicators
Across 30-minute technical gauges, buoyed by the single-day rally of over $50, the composite assessment reversed decisively from yesterday's bearish setup into a 'Strong Buy' (10 Buy, 1 Neutral, 0 Sell). Bullish momentum exhibits dominant strength alongside healthy indicator alignment:
Core Oscillators Signal Firm Bullish Bias:
The Relative Strength Index RSI(14) registers at 54.48, progressing steadily within neutral-to-bullish territory;
The Stochastic Oscillator STOCH(9,6) prints at 67.31, issuing an explicit buy call;
The Commodity Channel Index CCI(14) stands at 103.29, reflecting sustained bullish control.
Trend Momentum Gauges Diverge Strongly Upward:
The medium-term MACD(12,26) prints at 1.60, crossing above the zero line to sustain ongoing buy signals;
The Average Directional Index ADX(14) reached 44.47 with a buy recommendation, demonstrating that the unilateral upward trajectory initiated from session lows carries notable institutional continuity and vigor.
Sensitive Indicators Clear of Extreme Overbought Territory:
The fast StochRSI(14) reads 66.20;
The Williams %R sits at -32.81. Both remain within healthy expansion bands without entering extreme overbought thresholds that demand immediate washouts, signaling remaining upside room.
IV. Conclusion
Overall, while clashes between Houthi forces and Saudi Arabia broaden regional friction, Saudi Arabia's release of additional primary energy supplies via Oman has successfully countered runaway energy prices.