The price of gold after a sharp drop and a failed attempt to overcome the level of 1150, began to rise sharply and returned inside the rising channel. As a result, the quotations have reached the target level of 1220 and began to correct downwards. Falling of prices in the near future is limited by the lower boundary of the channel and the level of support at 1180. We keep medium-term outlook and look forward to continued growth within the channel.
Nearest resistance levels: 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1180, 1140, 1120, 1100
The price of Light sweet crude oil corrected upwards after the sharp fall in the last days. At the moment, quotes reached the level of 70.00 and consolidate below this level. Further price growth is limited by the upper boundary of descending channel and a strong resistance level at 74.00. We expect the resumption of the downward movement and recommend holding short positions.
Nearest resistance levels: 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00, 84.00
Nearest support levels: 68.00, 64.00, 63.00, 60.00