The price of gold reached the lower limit of the downward channel after breaking through the support level of 1244. In the short-term period the downward trend is likely to continue. In case of upward correction quotes can rise to 1244 and 1252. We forecast the downtrend to continue with the closest targets at 1220 and 1200, but maintain a medium-term positive outlook for gold.
Nearest resistance levels: 1244, 1252, 1265, 1278, 1290, 1300, 1320, 1330, 1340, 1350
Nearest support levels: 1220, 1200, 1180
The price of Light sweet crude oil rebounded from the bottom of the channel and reached a strong level of 92.50. For further growth with the objectives of 94.00 and 95.50, the price should be fixed above this level. We recommend holding short positions and forecast the resumption of the downward movement in the near future and maintain a medium-term negative outlook.
Nearest resistance levels: 92.50, 94.00, 95.00, 95.50, 96.00, 98.00, 100.00
Nearest support levels: 91.60, 91.00, 90.00