The price of gold continued to rise and reached the level of resistance at 1165. In case of further correction, quotations will return to the level 1150 and the lower boundary of the channel. The breaking of these levels will be the basis for the continuation of a downward price movement to the target levels at 1140 and 1120. For the continued increase to the target marks at 1195 and 1215 quotations need to consolidate above 1165. We expect the resumption of growth after the current correction.
Nearest resistance levels: 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1150, 1140, 1120, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil has not been able to continue the upward movement within the local rising channel and broke through its lower boundary and the support level at 49.65. Current negative momentum is likely to continue to the support level at 47.00. Breaking of this level will lead to a further drop to 44.00. Growth is limited by the resistance levels at 49.65 and 51.50. Our medium-term view remains negative.
Nearest resistance levels: 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 48.00, 47.00, 44.00, 42.00, 40.00, 38.00