The price of gold continues to gradually recover previously lost positions. Earlier, the quotations have decreased in the descending channel, to its lower boundary and reached the level of 1230. At the moment, the price is trying to overcome the resistance at 1244. In case of success, quotes will continue to rise up to the upper boundary of the channel and the level of 1265. The fall is limited by the level of 1230. Our medium-term outlook remains positive.
Nearest resistance levels: 1244, 1256, 1275, 1300, 1330, 1350
Nearest support levels: 1230, 1215, 1200, 1180, 1140
The price of Light sweet crude oil tried to overcome the resistance at 54.00, but was unable to gain a foothold above this level. At the moment, there is a possibility of a drop in prices to the levels of 50.00 and 48.00. In case of fixing the price above the level of 54.00, we expect further growth with the potential increase up to 60.00. Our medium-term outlook remains negative and we recommend to open short positions with a short stop above 54.00.
Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00