The price of gold failed to gain a foothold above the level of 1220 and corrected down to 1200. A further fall in the price is limited by the support level at 1200, 1190 and 1180. In case of growth the signals to open long positions will be fixing the price above the level of 1220. We keep positive medium-term outlook for gold with the potential of growth up to 1300.
Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330, 1350
Nearest support levels: 1200, 1180, 1140
The price of Light sweet crude oil continues a gradual increase after rebounded from the support level at 49.00. Further growth of quotations is limited by the levels of 52.00 and 54.00. According to our forecasts, the price will continue to decline in the near future and in the medium term within which is likely to reach the levels 45.00 and 40.00. We recommend holding short positions on oil with a stop above the strong level of 54.00.
Nearest resistance levels: 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00