The price of gold has broken through the lower border of the local rising channel and reached the level of 1190, but could not overcome it and started to correct upwards. To continue the upward movement, the price needs to overcome 1210. The fall is limited by the level of 1180. We maintain our medium-term positive outlook and recommend holding long positions with a stop below 1180 and the first targets near 1244 and 1252.
Nearest resistance levels: 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1180, 1140, 1120, 1100
The price of Light sweet crude oil continues to decline along the bottom of the channel and soon will reach a local minimum near 64.00. To continue with the objectives of the fall near 60.00, the price needs to overcome 64.00. In case of correction, the quotes, can grow to the level of 70.00, above which we recommend to set a stop. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 68.00, 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00, 84.00
Nearest support levels: 64.00, 63.00, 60.00