FXEM - EMPIRE MARKETS - Company New Article

Gold price starts today's trading with more rise to exceed our expected target at 2850.00, paving the way for more gains in the coming period, noting that our next target reaches the 2900.00 barrier.

Note that breaking 2835.00 will stop the upward momentum to pressure the price to turn lower and head to test the main ascending channel support around 2785.00 before any new attempt to rise.

Oil price trading rebounded downwards after testing the 73.90 level in the past sessions, heading towards testing the 72.30 level initially, noting that breaking this level is required to confirm the continuation of the downward wave whose next main targets reach 71.20 then 70.30.

Therefore, we continue to favor the downward trend in the coming period, reminding that breaching 73.90 will stop the expected decline and push the price to recover and visit the 75.50 areas initially.