The price of gold is moving above 1100. The possible price increase is limited by the angled line of resistance and fixing the price above the level of 1120 will be the basis for the opening of long positions with growth potential to 1150. Another possible scenario is overcoming the support at 1100, after which the fall will continue until 1080 and 1060. Our medium-term outlook remains negative. We are waiting for new signals and predict a rise in volatility.
Nearest resistance levels: 1120, 1150, 1165, 1195, 1205, 1215, 1230
Nearest next support levels: 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil rebounded from a strong support at 44.00 and moves within the triangle. The breaking of the upper boundary of the descending channel at 47.00 and mark of will be the reason for the continued growth of quotations to 47.00. According to our estimates, more likely is a continuation of the downward movement after breaking through the support at 44.00. In this case, the target level will be 42.00 and 38.00. Our medium-term outlook remains negative.
Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 44.00, 42.00, 40.00, 38.00