The price of gold continues to consolidate near the level of 1170 after a strong decline earlier. Further fall is limited by the levels 1140 and 1150. After a long consolidation there is a high probability of a strong price movement. We anticipate resuming the upward movement of the price with immediate goals around 1180 and 1210. Our medium term outlook also remains positive.
Nearest resistance levels: 1180, 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290, 1300
Nearest support levels: 1160, 1150
The price of Light sweet crude oil after a long consolidation has broken through a strong support level 79.40 and continued to decline. The price reached 76.00 and may continue the reduction to 75.00, about which we recommend to fix some positions. We recommend holding short positions and to move the stop to the levels above 82.00. Despite the decline in potential of falling, we maintain a medium-term negative outlook on oil.
The nearest resistance levels: 77.00, 80.00, 84.00, 85.50, 87.00, 89.00, 90.00, 92.00, 94.20
The next support levels: 76.00, 75.00