The price of gold has broken through the strong support level at 1290. At the moment the price is consolidating around the level of 1285, but probably will reach 1278 and bottom of the channel in the near future. Correction is possible to the level of 1290. We expect the downward movement in the near future, but keep medium-term positive outlook for gold.
Nearest resistance levels: 1290, 1310, 1320, 1330, 1340, 1350, 1365
Nearest support levels: 1278, 1265, 1252, 1244
The price of Light sweet crude oil reached the target level of 98.50 and continued to decline. At the moment the price approached the lower boundary of the downtrend channel and can rebound upwards to 98.50. With a further reduction, the target level will become 96.60. Our medium-term outlook remains negative with the target of about 92.00.
Nearest resistance levels: 98.50, 100.00, 101.60, 103.00, 103.50, 104.00, 104.60
Nearest support levels: 96.60, 95.20, 94.00, 92.00