The price of gold is consolidating below the level of 1165 after has shown a sharp increase. A further rise in price is possible up to a local maximum around 1280 the overcoming of which will be the basis for further growth of price up to 1300. At the moment, there is a possibility of price decline with the first targets at 1244 and 1230. Our medium-term outlook remains negative and we are waiting for the resumption of the downward dynamics in the near future.
Nearest resistance levels: 1280, 1300, 1315, 1330
Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080
The price of Light sweet crude oil continues to grow along the lower boundary of the local rising channel, which quotes have left earlier. As a result of strong growth in the last few weeks, the price reached an important mark on 42.00 and its breaking through will become the reason for further growth to 44.00. On the other hand, in case of opening of short positions with a stop above 42.00, the closest target levels will be 37.30, 36.00 and 33.00. Our medium-term outlook remains negative.
Nearest resistance levels: 42.00, 44.00, 45.00, 49.00
Nearest support levels: 40.00, 38.00, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00