The price of gold is consolidating near the important level of 1110. In case of consolidation of quotations above this level, the price will continue to rise to the next target marks 1130 and 1150. A possible drop in prices is limited by the level of support at 1080. We recommend to wait for a confirmation of the signal to open new positions and expect increased volatility in price tomorrow.
Nearest resistance levels: 1130, 1143, 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1110, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil after completion of correction and some consolidation around the level of 45.00, resumed decline within the descending channel. Given the steady downward impulse, we expect a drop in prices to the target levels of 40.00 and 42.00 in the near future. The upward correction is limited by the upper border of the channel and an important resistance level at 47.00. Our medium-term outlook is negative.
Nearest resistance levels: 44.50, 45.00, 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 42.00, 40.00