The price of gold continues to consolidate below the important level of 1244. In case of fixing above this level, the closest target levels will be 1256, 1265 and 1280. On the other hand, a breaking of the rising channel's lower boundary and fixing below it will become the reason to open short positions with the potential fall to 1165 and 1140. Our medium-term outlook remains negative and we are waiting for a strong price movement tomorrow.
Nearest resistance levels: 1244, 1256, 1280, 1300
Nearest support levels: 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065
The price of Light sweet crude oil continued upward movement along the inclined support line and was able to overcome the important level of 35.00. In case of fixation above this level and breaking through the closest resistance at 36.00, quotations can show strong growth until 38.00 and 40.00. We still maintain our negative outlook for the medium term and recommend to open short positions after the price fixation below the inclined support line.
Nearest resistance levels: 36.00, 38.00, 40.00, 40.75, 42.00
Nearest support levels: 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00, 20.00