The price of gold is consolidating around the level of 1260, after previously declined. In case of continued negative dynamics in the descending channel the closest targets will be 1244 and 1220. After a strong decrease in the previous days, there is a high probability of upward correction within the channel to its upper limit and the level of 1280. Our medium-term outlook remains positive, and the potential for further reduction according to our estimates is decreasing.
Nearest resistance levels: 1280, 1300, 1315, 1330, 1356, 1375, 1400, 1430, 1450
Nearest levels of support: 1244, 1220, 1200, 1190, 1165, 1150
The price of Light sweet crude oil has shown strong growth during which has reached the upper boundary of the local rising channel and the level of 52.00. A further increase in price is possible till 54.00. On the other hand, after the recent growth, there is a high probability of the price decline and in such case, the signal to sell will be fixation below 49.60. Our medium-term outlook remains negative and we expect the resumption of the fall in the near future.
Nearest resistance levels: 52,00, 54,00
Nearest support levels: 50,60, 48,50, 47,00, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00