The price of gold showed strong growth during which reached the important resistance level at 1244, but then started to correct downward. In case of continuation of the current correction, quotations will return to the levels of 1220-1230. On the other hand, overcoming the level of 1244 will be the basis for further growth until 1260. Our medium-term outlook remains negative, despite the likelihood of continued growth in the near future.
Nearest resistance levels: 1230, 1244, 1280, 1300, 1315, 1330
Nearest levels of support: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095
The price of Light sweet crude oil continues to consolidate below the psychologically important level of 50.00 and currently is around 50.00. If the price fixates above the level of 50.00, the growth will continue until 51.50 and 53.00, but according to our estimates, after the exit from the rising channel and a long consolidation, there is a high probability of the price fall to 47,00 and 45,00. In case of opening short positions, the stop must be installed above 50.00. Our forecast for the near future is a negative.
Nearest resistance levels: 50.00, 51.50
Nearest support levels: 49.00, 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00