The price of gold declined sharply and reached the support level at 1170. In case of continued downward movement, quotes reached the level of 1150. At the moment, the price of gold is increasing after a rebound from the level of 1170. The growth in the near future is limited by the levels of 1190 and 1210. Our medium-term outlook for gold remains positive, but the price decline may continue in a downward channel in the near future.
Nearest resistance levels are 1190, 1210, 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1180, 1150, 1140, 1100
The price of Light sweet crude oil keeps consolidating near the level of 60.00. In case of breaking and fixing the price above this mark, the price growth may continue to 64.00. According to our forecasts, this scenario is unlikely. The signal for the opening short positions will be breaking through the lower boundary of the rising channel and fixing the price below the level of 58.00. Our medium-term outlook remains negative and we are waiting for the confirmation of the signal for opening short positions.
Nearest resistance levels: 60.00, 64.00
Nearest support levels: 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00, 45.00, 44.00