The price of gold has broken the resistance level at 1280 and the upper boundary of rising channel. As a result, quotations approached the important resistance level of 1300 and overcoming it will be the basis for the continuation of the upward price movement with target levels at 1315 and 1330. Today we can see drop in quotations within the correction with the first targets at 1280 and 1265. Our medium-term outlook remains negative and we expect a decline of quotations in the medium term, despite the likely increase in May.
Nearest resistance levels: 1300, 1315, 1330
Nearest levels of support: 1280, 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095
The price of Light sweet crude oil corrected within the uptrend and may continue negative dynamics to the inclined support line. In case of continued rising dynamics, target levels will be 47.00 and 49.00. To change the trend quotations need to break through the inclined support line, and fix below the local minimum at 43.00. Our medium-term outlook remains negative and we are looking forward to the continued correction in the coming days.
Nearest resistance levels: 47.00, 49.00, 50.00, 51.50
Nearest support levels: 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00