The price of gold after several unsuccessful attempts to overcome the resistance level of 1300, started to correct downward and reached the level of 1280. The breaking of this level will become the basis for the further reduction of price with the objectives at 1244, and the lower boundary of the rising channel. The growth in the near future is limited by the resistance at 1300 the overcoming of which will become the basis for price growth to 1315 and 1330. Our medium-term outlook remains negative, but the positive dynamics can be resumed in the near future.
Nearest resistance levels: 1300, 1315, 1330
Nearest levels of support: 1280, 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095
The price of Light sweet crude oil continued a gradual decline within the ascending channel after breaking through the level of 45.00. In the near future quotations may reach the level of 43.00 and the bottom of the channel, fixing below which will become a signal about changing of the current positive trend to negative. In this case, the targets will be 42.00, 40.00 and 37.30. Within the channel, quotations may again rise to 47.00. Our medium-term outlook remains negative and the probability of falling in the near future, has grown significantly.
Nearest resistance levels: 45.00, 47.00, 49.00, 50.00, 51.50
Nearest support levels: 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00