The price of gold within the local rising channel continued to grow and reached the level of 1175 and at the moment is trying to gain a foothold above this mark. Strong growth and overcoming critical range 1165-1170 indicates a high probability of future growth of price with the closest targets at 1195 and 1215. The fall is possible within the descending channel to 1165 and 1150. We expect continued growth in the near future.
Nearest resistance levels: 1195, 1205, 1215, 1230
Nearest support levels: 1165, 1150, 1140, 1120, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil after breaking through the lower boundary of the local descending channel and the level of support at 49.65, started to decline rapidly and as a result fell to an important support level at 47.00. The breaking of this level will allow the price to return within the corridor 44,00-47,00. At the moment, there is a possibility of rebound of quotations to the level of 48.00. Our medium-term outlook remains negative.
Nearest resistance levels:: 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 47.00, 44.00, 42.00, 40.00, 38.00