The price of gold continues to consolidate near strong level of 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 reached the level of 103.00 and the upper limit of the local descending channel, but could not gain a foothold above and retreated down to 101.90. 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