The price of gold started to correct down after failed to overcome the level of 1220. At the moment, the price corrected within the local uptrend. Further fall is limited by the psychologically important level of 1200. According to our forecasts, the price will continue to rise in the medium term and we recommend holding long positions with a stop below 1170 and immediate objectives at 1230, 1244 and 1252.
Nearest resistance levels: 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1200, 1180, 1170, 1140, 1120, 1100
The price of Light sweet crude oil started to correct and has broken through the inclined resistance line. At the moment, the quotes approached a strong level of 50.00, but in the near future will probably not be able to overcome it. According to our estimates downward movement will continue in the near future. We recommend holding short positions and maintain a medium-term negative outlook.
Nearest resistance levels: 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00, 72.00
Nearest support levels: 47.50, 46.00, 45.00, 40.00