The price of gold after overcoming the important level of 1180 and reaching the upper limit of the local rising channel started consolidating above 1180. If the price fixates above this mark, we expect continued upward movement with the closest target levels near 1220 and 1230. The fall is limited by the level of 1160 and the lower boundary of the rising channel. Despite the weak position of the bulls, we maintain a medium-term positive outlook.
Nearest resistance levels: 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1180, 1140, 1120, 1100
The price of Light sweet crude oil continues to move within the downward channel. Currently quotations are consolidated below 76.00. For growth, the price needs to overcome 76,00 and break through the upper limit of the downward channel. We see no prerequisites for changing the negative trend and expect the price decline in the medium term with targets at 72.00 and 70.00.
Nearest resistance levels: 76.70, 79.40, 80.00, 84.00, 85.50, 87.00, 89.00, 90.00, 92.00
Nearest support levels: 74.00, 72.00, 70.00