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XAU/USD chart on the hourly time frame

Gold price provided additional positive trades to reach a few points away from our new expected target at 2725.00, and is showing somewhat sideways fluctuation now, waiting to gather positive momentum that contributes to pushing the price to continue rising and achieve more gains during the upcoming sessions, noting that the next target reaches the historical peak recorded at 2790.00.

Therefore, we continue to favor the upward trend in the coming period, noting that breaking 2680.00 will stop the upward wave and pressure the price to start a bearish correction in the immediate term.

USOIL chart on the hourly time frame

The decline in the oil price stopped at 78.25 levels, which prevented the price from incurring more losses, to rebound upwards and maintain its stability within the ascending channel shown on the chart, which supports the chances of resuming the upward trend during the upcoming sessions, waiting to visit 80.70 levels and then 83.00 as the next main stations.

Note that breaking 78.25 will stop the upward trend and pressure the price to incur new losses reaching 76.75.