The price of gold has shown a strong decline and reached the support level at 1200. At this point quotations are consolidated around this level and in case of continuation of negative dynamics will reach the level of 1180 and the lower boundary of the rising channel. On the other hand, at the moment there is a high probability of upward price rebound until 1230, and 1244. Our medium-term outlook remains negative and despite the possibility of rebound, we expect a continuation of negative dynamics in the near future.
Nearest resistance levels: 1230, 1244, 1256, 1280, 1300
Nearest support levels: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065
The price of Light sweet crude oil broke through the inclined resistance line and reached the level of 33.00. In case of breaking through this level and price fixing above this mark, we expect a further increase to 35.00, but the more likely scenario is the resumption of a negative movement with the potential of fall to 30.00 and 28.00. Our medium-term outlook remains positive.
Nearest resistance levels: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00
Nearest support levels: 31.00, 30.00, 28.00, 25.00, 22.00, 20.00