The price of gold after reaching the lower limit of the downward channel ceased to decline and corrected upwards to the level of 1080. In case of breaking through the upper boundary of the channel, quotes will likely continue the increase to 1100, fixing above which will be reason for opening long positions with the targets at 1120, 1140 and 1150. In case of the continuation of negative dynamics, the price will fall to the level of 1050. We expect the fall in the near future.
Nearest resistance levels: 1080, 1100, 1120, 1140, 1150, 1165, 1190, 1205, 1215, 1230
Nearest support levels: 1060, 1050, 1000
The price of Light sweet crude oil shows increased volatility, but continues to move around the level of 42.00. In case of price growth, a buy signal will be fixation above 43.00. In this case, the upward movement will continue until 45.00 and 47.00. On the other hand, we still recommend holding short position with a stop above 43.00 and objectives at 40.00 and 38.00. Our medium-term outlook is negative.
Nearest resistance levels: 43.00, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50, 52.00
Nearest support levels: 42.00, 40.00, 38.00