The price of gold has broken through the upper limit of the local downward channel and now is consolidating below the local maximum of 1310. Fixing the price of gold above this mark will be a signal to open long positions. In such case, the closest target levels will be at 1330 and 1350. In case of a fall, the quotes can reach 1290 and 1278. We maintain our positive outlook for the medium-term.
Nearest resistance levels: 1310, 1320, 1330, 1340, 1350, 1365
Nearest support levels: 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil after consolidation near the level of 97.00, resumed decline along the bottom of the downward channel and reached another target level of 96.60. In case of correction, the price may rise to 98.00. Further growth is limited by the resistance levels at 99.00 and 100.00. We expect continued downward movement in the medium term, but do not exclude the possibility of ascending price correction within the channel.
Nearest resistance levels: 98.00, 100.00, 101.60, 103.00, 103.50, 104.00, 104.60
Nearest support levels: 95.20, 94.00, 92.00