FXEM - EMPIRE MARKETS - Company New Article

Gold price made a new test at 2758.77 and bounced upwards from there, noting that the Stochastic indicator is showing new positive signs now.

Therefore, we believe that the chances are available for a rise during the upcoming sessions, reminding us that our main expected target is at 2790.00, while breaking 2740.00 will stop the bullish wave and pressure the price to start a bearish correction whose first main target is at 2708.50.

Oil price managed to break the 73.90 level and close the daily candle below it, reinforcing expectations of the continuation of the bearish corrective trend during the upcoming sessions, paving the way for heading towards 72.30, which represents our next main target, noting that breaking this level will pressure the price to incur additional losses reaching 70.30 in the near term.

Stability below 73.90 is important for the expected decline to continue, as breaking it will lead the price to achieve immediate gains and head towards testing the 75.53 areas before any new attempt to decline.