Gold
Gold prices strengthened on Wednesday amid optimism about a potential reduction in interest rates in the United States. The attention of the markets is focused on the upcoming meeting of the US Federal Reserve System (Fed). However, not only on the results of the decision itself, but also on the comments that will be made after the publication of the decision on the rate, during the press conference.
Gold, traditionally known for its stability and popularity as a hedge against various types of risks, is rising in price in conditions of low interest rates.

Technically, gold has reached a local maximum around the $2,430 level. From these positions, it is possible to develop a new wave of decline. It is also possible to update the maximum and start a decline from a stronger zone around the $2,450 mark and above. It is possible to update the highs when strong fundamental triggers appear. The aim of the decline may be to update the local support zone around the $2,350 level and test support around $2,300.

Oil
Oil continues a local downward trend, which is likely to weaken. Even the local zone around $74.50, which we mentioned earlier, was not overcome. Also, keep in mind the global zone, which will provoke purchases and is located below $ 73. This zone is clearly visible on the charts of the higher timeframes.