FXEM - EMPIRE MARKETS - Company New Article

Gold price exceeded the 2790.00 level to record new historical levels, and begins testing the 2800.00 barrier now, waiting to break this level to head towards 2808.20, noting that breaking this level will extend the upward wave to reach the 2850.00 areas in the near term.

The current negativity of the Stochastic indicator may cause temporary sideways fluctuation before resuming the upward wave, noting that breaking 2790.00 will put the price under negative pressure in the short term and may head towards visiting the 2756.30 areas before any new positive attempt.

Oil price closed yesterday's trading above the 73.90 level, trying to build an upward wave on the short-term and heading towards achieving expected gains during the upcoming sessions, targeting a test of the 75.52 level mainly.

Therefore, the upward trend will be likely for today, noting that breaking 73.90 and holding below it will pressure the price to resume the downward corrective path and head towards 72.30 as a next negative station.