The price of gold has broken the lower boundary of the local descending channel, and after overcoming the psychologically important mark of 1300 accelerated the decline. As a result, quotations have decreased to the level of 1280 and in the near future may continue fall to 1244 and 1220. In case of rebound, we expect a return to the level of 1300. The current decline may continue in the near future, but the medium-term outlook remains positive.
Nearest resistance levels: 1280, 1300, 1315, 1330, 1356, 1375, 1400, 1430, 1450
Nearest levels of support: 1244, 1220, 1200, 1190, 1165, 1150
The price of Light sweet crude oil continues upward movement along the inclined resistance line and may soon reach the resistance levels at 50,00-50,60, overcoming of which will be the basis for further price increase to 52.00 and 54.00. According to our estimates, after a strong growth, quotations will soon resume the negative dynamics and in this case, the closest targets will be 47,00 and 45,00. Our medium-term outlook is negative, despite the likely continued growth in the coming days.
Nearest resistance levels: 50,60, 52,00, 54,00
Nearest support levels: 48,50, 47,00, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00