FXEM - EMPIRE MARKETS - Company New Article

Gold continues to make strong gains, trading near $3,029 per ounce, benefiting from a weaker dollar and market anticipation of the Federal Reserve meeting.

• Important pivot area: $3,005-$2,980, which may boost buying appetite in the event of price corrections.
• Price barrier area: $3,040-$3,065, which may hinder continued upward movement for the time being.

If the buying momentum continues, we may witness an attempt to test $3,040 and then higher levels. However, if selling pressure returns, gold may decline towards $3,005 to retest previous support areas.

Oil continues to trade at $66.20 per barrel amid mixed pressures from the global demand outlook and concerns about slowing economic growth.

• Important Pivot Area: $65.50-$64.80, where buyers may show interest in pushing the price higher.
• Price barrier zone: $67.00-$68.20, which could hinder further upward movement without new catalysts.

If buying pressure continues, oil could target $67.00 and then $68.20, while a break below $65.50 could open the door for a further decline toward $64.80.