The price of gold corrected inside the rising channel and may soon reach the level of 1220. We expect that the quotes will continue to rise within the channel with the objectives of 1244, 1252, 1265 and 1278. In case of breaking through the lower boundary of the channel, the price can decrease to the level of 1170. Our medium-term outlook remains positive and we recommend holding short positions with a stop below 1170.
Nearest resistance levels: 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1210, 1200, 1180, 1170, 1140, 1120, 1100
The price of Light sweet crude oil resumed its decline after a minor correction to the upper limit of the downward channel. Currently quotations continue to decline within the channel and is likely to overcome the level of support at 45,00. Our medium-term outlook remains negative with the target at 40.00. We also recommend holding short positions with a stop above 50.00.
Nearest resistance levels: 46.00, 47.50, 50.00, 52.00, 54.00, 58.50, 60.00
Nearest support levels: 45.00, 42.00, 40.00, 35.00