The price of gold after several attempts, could not overcome the level of support at 1220, and started to correct upwards. In case of overcoming this level, we expect continued growth with the first targets at 1244 and 1256. On the other hand, fixing of quotations below 1220 will be the basis for the further reduction of quotations with the potential of fall to 1180-1200. We maintain our positive outlook for the medium-term and recommend accumulating positions in gold.
Nearest resistance levels: 1230, 1244, 1256, 1280, 1300, 1330, 1350
Nearest support levels: 1220, 1200, 1180, 1140
The price of Light sweet crude oil after correction to the level of 50.00, and has started growing again at the moment is trying to overcome an important level 53.00. In case of continuation of the current dynamics, quotes will reach the mark of 54.00, overcoming of which is unlikely. According to our estimates the price will continue to consolidate around current levels in the near future. Fixing the price below 50.00, will be the basis for opening short positions with the potential of fall to 45.00 and 40.00. Our medium-term outlook remains negative.
Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00