The price of gold failed to overcome the level of 1340, and began to decline. At the moment, the price dropped to a strong level of 1330, and in case of fixing above it, we recommend opening long positions with the targets 1350 and 1365. Confirmation of a buy signal will be overcoming the level of 1340. Fall is limited by inclined support line. We keep midterm positive outlook unchanged.
Nearest resistance levels: 1340, 1350, 1365
Nearest support levels: 1310, 1300, 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil after the correction once again began a rapid decline, and broke through the level of 101.00 and has reached the psychologically important mark of 100.00. With a further fall, the price may drop to 99.60 and 98.50. We expect the rebound from 100.00 then the price may stabilize around current levels. We expect the further decline after consolidation and maintain midterm negative outlook.
Nearest resistance levels: 101.00, 101.90, 102.50, 103.00, 103.50, 104.00, 104.60
Nearest support levels: 100.00, 99.60, 98.50