The price of gold continued to fall and reached the level of 1265 and the lower limit of the downward channel. In case of price correction, quotes, will return to the levels of 1280 and 1300, as well as the upper boundary of the channel. Given the recent breaking through the important support level 1300, we expect a further price reduction to the next target at 1244. Our medium-term outlook remains positive, but we expect a further decline of price in the coming weeks.
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 to rise gradually along the inclined line of resistance and reached the psychologically important level of 50.00. Fixation above this level and overcoming of resistance at 50.60, will be the basis for continued growth with targets at 52.00 and 54.00. According to our forecasts, after strong growth quotes will show price reduction and the nearest objectives in this case will be 48.50 and 47.00. We forecast a decline in quotes in the near future and expect decline in the next months.
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