The price of gold corrected downwards and reached the inclined support line. In case of continued negative dynamics quotes will go down to 1330. Overcoming this support will cause price fall further to 1315 and 1300. According to our estimates, there is a high probability of upward price rebound to the level of 1356, the overcoming of which will become a signal to buy with targets at 1375 and 1400. Our medium-term outlook remains positive, and the current decline according to our estimates will change to growth in the near future.
Nearest resistance levels: 1356, 1375, 1400, 1430, 1450
Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150
The price of Light sweet crude oil continued to rise after has overcome the resistance level at 47.00. The next upside target levels in the case of continued growth will be 48.50 and 50.50. According to our estimates, the growth potential is limited and we expect a drop in the near future to levels of 45.00 and 43.00. Our medium-term view also remains negative.
Nearest resistance levels: 45,00, 46,30, 48,50, 50,60, 52,00, 54,00
Nearest support levels: 43,00, 42,00, 40,00, 37,30, 36,00, 35,00