The price of gold could not overcome the upper boundary of the descending channel and continues to fall along its upper boundary. At the moment, there is a high probability of further downward price movement to the target level at 1150. In case of breaking through the upper boundary of the channel the signal for opening long positions will be fixing the price above the local maximum at 1175. We expect the price growth in the medium term, but in the near future will probably see a decrease.
Nearest resistance levels: 1170, 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1150, 1143, 1100
The price of Light sweet crude oil could not continue to decline after reaching the level of 52.00 and started to correct upwards. Currently quotes are near the mark of 54.00, and according to our forecasts will continue to rise to an important mark of 55.00 in the near future. Despite current growth, we expect a decrease of the price within the medium term and recommend to wait for the signal for opening short positions.
Nearest resistance levels: 54.00, 55.00, 57.00, 58.00, 59.25, 60.00, 61.70, 62.70, 64.00
Nearest support levels: 52.00, 51.00, 50.00, 48.00, 47.00