The price of gold is consolidated around the level of 1120. This level of support is the lower boundary of the triangle and in the near future we can see the growth of quotations to its upper limit. In case of continuation of the downward movement, quotes will reach the target marks 1100 and 1080. We expect the growth of gold price in the near future and expect strong price movement after the completion of the consolidation of price.
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