The price of gold could not overcome the upper limit of the upward channel and started to correct. In case of further correction, quotes will continue to decline up to the bottom of the channel and the levels of 1200-1210. According to our estimates, quotes will continue to grow inside the rising channel. Target levels are 1244 and 1252. Our medium-term outlook also remains negative.
Nearest resistance levels: 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1220, 1210, 1180, 1140, 1120, 1100
The price of Light sweet crude oil decreases along the inclined resistance line. We estimate that in the near future quotations will continue to decline with a target at 60.00. The price can be stabilized near this level for some time. In the case of a rebound, quotes, can grow up to 64.00. We recommend holding short positions with a stop above 64.00 and save a medium-term negative outlook.
Nearest resistance levels: 64.00, 68.00, 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00
Nearest support levels: 60.00, 57.00, 54.00