The price of gold continues to consolidate above the level of 1185. The volatility of prices yesterday showed strong growth, but the quotes returned to the previous levels. As a result, the quotes broke through the upper limit of the downward channel, and in case of growth can reach the level of 1200 and 1215. For the continuation of the downward price movement with the objectives of 1170 and 1150, the price must be overcome the strong support level at 1185. We keep medium-term positive outlook and expect the price growth soon.
Nearest resistance levels: 1200, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1185, 1170, 1150, 1140, 1100
The price of Light sweet crude oil after a minor downward correction resumed growth and has broken through the upper limit of the descending channel and approached the level of resistance at 61.00. The breaking of this level will become the basis for further growth up to resistance at 62.70. At the moment, there is a possibility of the price return into the descending channel that will be the reason for the drop to 58.00, 54.00 and 52.00. We maintain a medium-term negative outlook.
Nearest resistance levels: 61.00, 62.70, 64.00, 70.00
Nearest support levels: 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00