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Gold price opened today's trading with a strong rise and is heading towards resuming the main upward trend, on its way to achieving gains that start by testing the 2790.00 level.

Note that breaking 2762.00 will stop the upward wave and pressure the price to start a downward wave in the short term.

Oil price succeeded in achieving our first expected target at 75.53, and we notice that the price closed the last daily candle below it, reinforcing expectations of the continued control of the downward correction to head towards visiting the 73.90 level as the next main target.

Therefore, we continue to favor the downward trend for the coming period, taking into account that breaching 75.53 and stabilizing above it may push the price to start recovery attempts and achieve immediate gains targeting testing the 76.90 areas and then 77.53 before any new attempt to decline.