FXEM - EMPIRE MARKETS - Company New Article

XAU/USD chart on the hourly time frame

Gold price trades rebounded downwards after the positive attempts it witnessed yesterday, and settled below 2645.00 levels, which keeps the bearish trend scenario valid and effective in the coming period, reminding that our next target is at 2600.00, which breaking it represents the key to rushing towards the 2515.00 areas in the near term.

While breaking 2646.00 and stabilizing above it will stop the negative scenario and push the price to start new recovery attempts.

USOIL chart on the hourly time frame

Oil price has been trying to break the 68.64 level since yesterday, waiting to exceed this level to confirm the extension of the downward wave in the short term, where the next targets are at 67.50 then 67.00.

Note that breaking 69.40 will push the price to achieve immediate gains and test the 70.58 level before any new negative attempt.