The price of gold reduced to the level of 1120 and is consolidated beside it. In case of upward movement the quotes will reach inclined resistance line and then can continue to grow to 1150. In case of overcoming the support at 1120, the price will continue to decline to 1100 and 1080. We expect consolidation near the current levels in the near future and look forward to signals to open new positions.
Nearest resistance levels: 1150, 1165, 1195, 1205, 1215, 1230
Nearest next support levels: 1120, 1110, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil continued to decline after another unsuccessful attempt to overcome the upper limit of the downward channel. In case of further reduction the quotes will reach the first target at 44.00, after which the price may continue to drop to 42.00. In case of a change of trend, a signal for opening long positions will be consolidation above 49.65. We recommend to keep short positions and maintain the medium-term negative outlook.
Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 44.00, 42.00, 40.00, 38.00