The price of gold corrected upwards until 1230, and at the moment is consolidating around this mark. In case of continued growth quotations may reach the level of 1244. In order to continue the negative dynamics, the price needs to overcome the support at 1210. We expect a continuation of the negative dynamics of price with the objectives at 1190 and 1065. Our medium-term outlook remains negative and long positions should be opened only in case of fixation the price above the level of 1244.
Nearest resistance levels: 1230, 1244, 1280, 1300, 1315, 1330
Nearest levels of support: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080
The price of Light sweet crude oil rebounded from the bottom of the local descending channel and returned to the important level of 37.30. In the near future the growth may continue until the upper boundary of the local channel and its overcoming will be the basis for further growth of the price to 40.00. According to our estimates, the fall of price will continue in the in the near future to 34,00 and 31,00. Our medium-term outlook is negative.
Nearest resistance levels: 37,30, 40.00, 42.00, 44.00, 45.00, 49.00
Nearest support levels: 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00