FXEM - EMPIRE MARKETS - Company New Article

Gold price ended last Friday's trading below the main ascending trend line, to fall under expected negative pressure during the upcoming sessions, on its way to test the levels of 2615.00 and then 2600.00 as the next main stations.

Breaking 2640.00 will facilitate the price's mission to achieve the negative targets mentioned above, while breaching 2680.00 will stop the expected decline and lead the price to recover again, to resume the main upward path whose next target is at 2745.00.

Oil price succeeded in breaking the 70.58 level and ended last Friday's trading above it, confirming the continuation of the upward wave in the immediate and short term, and the road is open to head towards the next expected target at 72.15.

Therefore, we are waiting for more expected rise during the upcoming sessions, noting that breaking 70.58 will stop the upward trend and pressure the price to turn down, heading towards achieving negative targets starting with testing the 69.50 areas.