The price of gold has overcome the resistance at 1310 and returned within the corridor 1310-1330. Now the price is trying to gain a foothold above 1310, and then will likely continue an upward motion to the upper boundary of the rising channel and target levels at 1350 and 1365. We maintain a positive outlook for the medium-term and recommend holding long positions.
Nearest resistance levels: 1330, 1340, 1350, 1365
Nearest support levels: 1310, 1300, 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil accelerated growth yesterday and reached 103.00 and inclined resistance line. For further increase of price, the quotations need to gain a foothold above these levels. We predict the price correction and recommend opening short positions with the targets of about 100.90 and 100.00 and the stop above 103.00. To determine the price movement in the medium term, we will need additional signals.
Nearest resistance levels: 103.00, 103.50, 104.00, 104.60
Nearest support levels: 100.90, 100.00, 99.60, 98.50, 96.60