The price of gold has overcome the psychological resistance level of 1300, and now is trying to gain a foothold above it. In case of continued growth a signal to buy will be price fixing above the level of 1305. In this case, the targets will be the levels of 1316, 1330 and 1350. Decline is limited by the strong support level at 1278. We keep medium and long-term positive outlook for gold.
Nearest resistance levels: 1305, 1316, 1330, 1350
Nearest support levels: 1300, 1290, 1278
The price of Light sweet crude oil has reached the upper limit of the local rising channel and is trying to gain a foothold above the strong level of 102.00. If the price will fix above 102.00, the growth may continue to 104.00. We expect a downward correction within the local rising channel with target at 101.00 and keep long-term negative outlook for oil.
Nearest resistance levels: 103.20, 104.00
Nearest support levels: 101.00, 100.00, 99.30, 98.40