Volatility of gold has dropped significantly in the last trading session. Currently the quotes are consolidating within the narrow range of 1252-1258. To determine the further movement we need additional signals. Fall is limited by local minimum near 1244. To change the downward trend, the price needs to overcome the level of 1278. We maintain a long-term positive outlook for gold.
Nearest resistance levels: 1258, 1265, 1278, 1290, 1305, 1316, 1330, 1350
Nearest support levels: 1252, 1244, 1220, 1220, 1180
The price of Light sweet crude oil failed to fix below 101.90, exited from a local downtrend channel and now is consolidated within the corridor 101,90-102,50. To continue the downward movement, the price needs to fix below 101.90. We keep medium and long term negative outlook for oil.
Nearest resistance levels: 102.50, 103.00, 104.00, 104.60, 105.00
Nearest support levels: 101.90, 101.00, 100.40