The price of gold after some consolidation near the important level of 1244 continued to grow and reached the nearest target mark of 1260. Overcoming this level will be the basis for the continuation of the upward price movement with the objectives at 1280 and 1300. On the other hand, after the strong growth is likely correction of price with a possible decrease to 1244. Our medium-term outlook remains negative, but the current growth may continue in the near future.
Nearest resistance levels: 1280, 1300, 1315, 1330
Nearest levels of support: 1244, 1220, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095
The price of Light sweet crude oil after breaking through the resistance level at 50.20, continued growth and returned within the ascending channel. As a result the price may reach the level of 52.00 and the nearest target levels within the current impulse will be 54,00 and 56,00. In case of correction, the quotes will return to the support at 50.20, after which the decline may continue until 48.00. According to our estimates, the potential for further price growth is limited and we expect the beginning of a correction in the near future.
Nearest resistance levels: 52,00, 54,00, 56,00, 58,60
Nearest support levels: 50.20, 49.00, 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00