The price of gold corrected within the local downtrend channel, but could not reach its upper limit and the resistance level at 1278. In case of further fall the price will reach an important mark of 1252. In order to continue the growth the price needs to break through the upper boundary of the channel and to fix above 1280. Our medium-term outlook remains positive, but we expect a decline in the near future.
Nearest resistance levels: 1278, 1300, 1330, 1350
Nearest support levels: 1252, 1244, 1230, 1215, 1200, 1180, 1140
The price of Light sweet crude oil resumed its decline after a sharp correction. As a result, quotes returned to the levels below 50.00 and in the near future may continue the downward movement with a target at 45.00. The price growth is limited by the level of resistance at 54.00. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 54.00 and targets at 40.00.
Nearest resistance levels: 50.00, 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 47.50, 45.00, 43.00, 40.00