The price of gold could not continue to grow after reaching the level of 1230, and started to correct downwards. Currently quotations reached an important level of 1220 and may continue downward movement in the near future inside the rising channel. In this case, the price will fall to the level of 1200. According to our forecasts, in case of the resumption of growth, quotations will reach the targets at 1244 and 1256. Our medium-term outlook remains positive, but the decline may continue in the near future.
Nearest resistance levels: 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1220, 1200, 1190, 1180, 1150, 1140, 1100
The price of Light sweet crude oil after some consolidation, has overcome the psychologically important level of 60.00, and continues to fall. If the price fixates below 59.00, we recommend to open short positions with the targets at 56.00, 52.00 and 48.00. The price growth in the near future is limited by the levels of resistance at 62.70 and 64.00. We expect a drop in prices in the near future and maintain the medium-term negative outlook on oil.
Nearest resistance levels: 60.40, 62.70, 64.00, 70.00
Nearest support levels: 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00