The price of gold continued to decline and approached the support level at 1170. In case of breaking through and fixation of price below this level, we expect a further fall in price to the levels of 1150 and 1143. On the other hand, at the moment there is a high probability of a rebound of quotations from this level with the growth potential to 1190 and 1205. We keep medium-term positive outlook for gold, but can see a further decline in the near future.
Nearest resistance levels: 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1170, 1150, 1143, 1100
The price of Light sweet crude oil was unable to break through the level 59.25 and now tries to fix below this mark. In case of success we expect a price drop to 58,00 and 57,00. At the same time, in case of overcoming the strong level 59.25, the price with high probability will return to the levels of resistance at 60.00 and 61.70. Our medium-term outlook remains negative and we recommend holding short positions with the first target at 57.00.
Nearest resistance levels: 59.25, 60.00, 61.70, 62.70, 64.00, 70.00
Nearest support levels: 58.00, 57.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00