The price of gold after reaching the lower limit of the upward channel, bounced off it and now is approaching the strong level of 1310. In case of breaking that mark, gold prices return to the framework of the side corridor 1310-1330 and will likely continue the growth. In case of reduction, a signal to sell will be the price fixing below the channel boundary and the level of 1290. We maintain a positive outlook with the medium-term objectives of 1350 and 1330.
Nearest resistance levels: 1310, 1340, 1350, 1365
Nearest support levels: 1300, 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil continued to correct upwards and now is consolidating around the level of the nearest local maximum of 100.80. In addition, the price reached the inclined resistance line. In case of further growth, the price can reach 102.50. We expect continued downward movement in the medium term with objectives of 98.50 and 96.60.
Nearest resistance levels: 102.50, 103.00, 103.50, 104.00, 104.60
Nearest support levels: 100.00, 99.60, 98.50, 96.60