The price of gold after reaching the level started to decline 1210 and approached the lower boundary of the rising channel. Decrease in the amplitude of oscillations increases the likelihood the strong price movement. The fall is limited by a strong support level at 1180. We expect continued upward movement and maintain the medium-term positive outlook for gold. We also recommend holding long positions with the targets at 1244 and 1252, and the stop below 1180.
Nearest resistance levels are 1220, 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1200, 1180, 1140, 1120, 1100
The price of Light sweet crude oil decreases along the bottom of the downward channel. Growth of price in the near future is limited by the level of 70.00 Overcoming this mark in the following weeks is unlikely. We continue to recommend holding short positions and maintain a medium-term negative view of the oil with the objectives of 64.00 and 60.00.
Nearest resistance levels: 68.00, 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00, 84.00
Nearest support levels: 64.00, 63.00, 60.00