The price of gold continued to decline after breaking through the support level at 1120 and according to our forecasts will reach the support level of 1100 in the near future, and then may start to correct upwards. Breaking through the level 1120 will be the basis for further growth of quotations to 1130 and 1140. At the moment, there is no clear trend, and we expect continued consolidation of price within the coming weeks.
Nearest resistance levels: 1120, 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil has jumped to resistance level at 47.00 but failed to continue the growth and corrected to the sloping support line. Currently quotes are growing and can rise to the levels of resistance at 47.00 and 48.00, but overcoming these levels and continued growth is unlikely. Our medium-term outlook remains negative, but in the near future is likely the continuation of price consolidation within the range 44,00-47,00.
Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 44.00, 42.00, 40.00, 38.00