The price of gold continues to fall within the local descending channel after has broken the support level at 1200. In case of saving the current dynamics, quotes will reach the levels 1180 and 1175. In order to change the downward trend, the price needs to break through the upper limit of the descending channel and to gain a foothold above the local maximum at 1210. We maintain a medium-term positive outlook, but the decline may continue in the near future.
Nearest resistance levels: 1200, 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1175, 1150, 1140, 1100
The price of Light sweet crude oil has broken through the strong resistance levels at 54.00 and 55.00. Fixing the price above given marks is the basis for continued growth with the objectives at 58.50 and 60.00. To change the ascending trend the price needs to gain a foothold below 52.00. We maintain our medium-term negative outlook, but in the nearest future we can see continued growth.
Nearest resistance levels: 58.50, 60.00, 64.00
Nearest support levels: 55.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00, 45.00, 44.00, 43.00