FXEM - EMPIRE MARKETS - Company New Article

Gold price is currently trading at 2902, recording some decline after its recent attempts to break the resistance levels. The general trend for gold remains supported by the demand for safe havens, but the pressures resulting from the strong dollar and rising bond yields are weakening the upward momentum. In case the level of 2895 is broken, the price may head towards testing 2880, while trading back above 2910 will restore the chances to target 2925 as the next resistance level.

Currency oil is currently trading at $70.85 per barrel, continuing to move within a narrow range amid increasing pressure from rising US inventories and weak Chinese demand. The price faces resistance at 71.50, and if it is broken, we may see an upside towards 72.20. However, if the 70.50 level is broken, the decline may extend to 70.00, which will increase the negative pressure on prices.