The price of gold after a long consolidation near the important level of 1200, started to decline sharply and reached the lower limit of the descending channel and the level of 1165. At the moment, quotations are corrected upwards and according to our forecasts will continue to rise up to 1200. We recommend to open long positions with short-term growth potential to 1200. The fall is limited by the levels 1140 and 1100. Our medium-term outlook remains positive.
Nearest resistance levels: 1200, 1220, 1244, 1256, 1280, 1300, 1330, 1350
Nearest support levels: 1180, 1165, 1140, 1100
The price of Light sweet crude oil broke through the sloping support line and started decline within which approached the important mark at 50.00. In case of continued downward movement, the price will reach marks of 49.00 and 45.00. Signal about changing the negative trend to the positive will be fixing the price above the level of 54.00. We recommend holding short positions with a stop above 54.00. Our medium-term outlook also remains negative.
Nearest resistance levels: 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 50.00, 49.00, 45.00, 43.00, 40.00