The price of gold has stopped to decrease and is consolidating above the support level 1244. In case of further fall, the price can reach the levels of 1220 and 1200. Within the correction, the quotes can grow to 1252 and 1265. We expect the fall in the medium term, but keep a long-term positive outlook.
Nearest resistance levels: 1252, 1265, 1278, 1290, 1305, 1316, 1330, 1350
Nearest support levels: 1244, 1220, 1220, 1180
The price of Light sweet crude oil has failed to fix below 101.90 and corrected upwards to 102.50. Further growth is limited by the upper boundary of the local downstream channel. To continue the downward movement, the price needs to overcome the support at 101.90. We recommend holding short positions and maintain a long-term negative outlook for oil.
Nearest resistance levels: 102.50, 103.00, 104.00, 104.60, 105.00
Nearest support levels: 101.90, 101.00, 100.40