The price of gold continues to gradually rise along the inclined support line after breaking through the upper limit of the downward channel. For the continuation of growth quotations need to overcome the local maximum at 1195, which will be the basis for the price increase to 1215 and 1230. Our medium-term outlook for gold remains positive, but in the nearest future may decrease to a strong support level around 1150.
Nearest resistance levels: 1195, 1200, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1170, 1150, 1140, 1100
The price of Light sweet crude oil declined to 60.00 after failed to overcome the upper boundary of the rising channel. The price volatility remains high and we expect this trend to continue this week. Overcoming the support level at 60.00 will be the basis for the continuation of the downward price movement to the bottom of the channel and the target level of 58.00. We recommend holding short positions and maintain the medium-term negative outlook.
Nearest resistance levels: 61.70, 62.70, 64.00, 70.00
Nearest support levels: 58.00, 57.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00