The price of gold consolidates above the level of 1285 after it failed to gain a foothold above the level of 1290 and broke the lower boundary of the local downward channel. Reduction is possible to the levels of 1275-1278. For continued growth the price needs to gain a foothold above 1290. We expect continued upward movement with the immediate goal of about 1320 and maintain a medium-term positive outlook.
Nearest resistance levels: 1290, 1300, 1320, 1330, 1340, 1350, 1365
Nearest support levels: 1278, 1265, 1252, 1244
The price of Light sweet crude oil fixed above the strong level of 94.00, which was the signal for continued growth. In the near future quotations will reach 96.00. Overcoming of this level is unlikely and we expect that in the nearest future the price will start to decrease with the closest target near 94.00. Our medium-term outlook remains negative.
Nearest resistance levels: 96.00, 98.00, 100.00, 101.60, 103.00
Nearest support levels: 94.00, 92.00, 91.60, 91.00, 90.00