The price of gold after fixing above the upper boundary of the local descending channel has overcome the level of the nearest local maximum around 1310 and continued to grow. We recommend to open long positions with the closest targets at 1330 and 1350. The fall is limited by the level of 1290 and medium-term outlook remains positive.
Nearest resistance levels: 1320, 1330, 1340, 1350, 1365
Nearest support levels: 1310, 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil after prolonged descent along the lower boundary of the downward channel started to correct upwards and got closer to the mark of 98.00. Further growth within the correction is possible to the upper boundary of the descending channel and important level of 100.00. We expect continued downward movement of price in the medium term with a target near 92.00.
Nearest resistance levels: 98.00, 100.00, 101.60, 103.00, 103.50, 104.00, 104.60
Nearest support levels: 96.00, 95.20, 94.00, 92.00