The price of gold could not continue its upward movement and reach the resistance at 1290 and corrected downwards. Now gold quotes reached the strong level of 1265 and are consolidating near it. In case of further decrease, the price may fall to 1252 and 1244. We expect the resumption of growth of gold price in the medium term.
Nearest resistance levels: 1278, 1290, 1300, 1316, 1330, 1350
Nearest support levels: 1265, 1252, 1244, 1220, 1200
The price of Light sweet crude oil has failed to overcome the upper limit of the rising channel and the nearest local maximum of about 107.00 and rolled down to 106.00. To continue the downward movement within the channel, the price needs to fix below 105.90. In such case, the price may drop to 104.00. We expect a downward correction, but predict that the price will continue to move inside the rising channel in the medium term.
Nearest resistance levels: 107.00, 108.50, 110.00
Nearest support levels: 105.90, 104.00, 103.00, 102.00, 101.00, 100.00