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XAU/USD chart on the hourly time frame

Gold price stopped falling at the level of 2656.70, to start bouncing upwards and heading towards resuming the upward path on the short-term, on its way to test the level of 2700.00 as a first positive target.

Therefore, we are waiting for more expected rise during the upcoming sessions, supported by the positivity of the technical indicators, noting that breaking 2659.00 will stop the upward wave to pressure the price to make more bearish correction, whose next targets reach the levels of 2646.90 then 2634.90.

USOIL chart on the hourly time frame

Oil prices made new positive trades to exceed the second target 78.80 and reach the 79.30 areas, and is affected by the negative momentum to show some temporary bearish bias now, waiting for a positive incentive that contributes to pushing the price to resume the main upward trend, whose next target reaches 80.00.

Noting that breaking 78.25 may pressure the price to turn down in the short term to head towards testing the 77.30 areas and may extend to 76.40 before any new attempt to rise.