The price of gold continues to decline within the local descending channel and in the near future may continue descending dynamics to the levels 1315 and 1300. On the other hand, the overcoming of the upper boundary of the channel and fixing beyond it will be the basis for continued growth with the objectives at 1350 and 1370. Our medium-term outlook remains positive, but we expect a further decline in the near future.
Nearest resistance levels: 1350, 1370, 1400, 1430, 1450
Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150
The price of Light sweet crude oil continued to rise after rebounded from the support level around 45.00. It is worth noting that the quotes broke through the inclined resistance line, which is the basis for continued growth to the upper boundary of the descending channel and the level of 48.50. Our medium-term outlook remains negative, but the current correction may continue in the near future.
Nearest resistance levels: 47,00, 48,50, 50,60, 52,00, 54,00, 56,00, 58,60
Nearest support levels: 46,30, 45,00, 43,00, 40,00, 37,30, 36,00, 35,00