The price of gold did not reach the target level at 1130 and started to correct downwards. As a result, the price broke through the lower boundary of the rising local channel. In case of further decline, quotes will reach the level of 1110. In order to continue the growth with a target at 1150, the price needs to overcome the resistance at 1130. We forecast a drop in prices in the near future and growth is possible only within the correction.
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 some consolidation near the level of 44.00, and continued to fall approached the lower boundary of the descending channel. In case of correction, the price may rebound to its upper limit and the level of 45.00. Our medium-term outlook remains negative and we expect achieving the psychologically important mark of 40.00 in the near future.
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