FXEM - EMPIRE MARKETS - Company New Article

We are waiting for the price to be motivated to resume the expected downtrend for the coming period, whose next target is at 2600.00.

The continuation of the downtrend depends on stability below the 2670.00 level, as its breach represents the key to returning to the main upward path to head towards achieving gains that begin with testing the 2700.00 barrier.

Oil price trading is stable around the 67.90 level after the decline it witnessed in the past sessions, waiting to exceed our first target 67.00 to confirm opening the way to head towards our next negative station at 65.50.

Therefore, we continue to favor the downward trend in the coming period, taking into account that breaching 68.64 will stop the downward wave and lead the price to start recovery attempts in the short term.