The price of gold reached the level of 1190 after breaking through the upper boundary of the descending channel and currently is corrected downwards. The signal about changing the local negative trend to positive will be fixation of quotations above the local maximum at 1195. In this case, we can expect growth to 1215 and 1230. The fall is limited by the levels of support at 1700 and 1150. We keep medium-term positive outlook, but expect further price consolidation within 1170-1230 range.
Nearest resistance levels: 1195, 1200, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1170, 1150, 1140, 1100
The price of Light sweet crude oil after reaching the local maximum at 61.70 stabilized and continues to consolidate below this level. In case of further growth quotations may reach the resistance at 62.70 and 64.00. According to our forecast, the price decline will resume in the near future and at the moment there is a possibility of opening short positions with a stop above 63.00 and objectives at 58.00 and 57.00. Our medium-term outlook remains negative.
Nearest resistance levels: 62.70, 64.00, 70.00
Nearest support levels: 61.70, 58.00, 57.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00