The price of gold after a sharp rise yesterday, has reached the level 1175 below which is consolidated at the moment. It is worth noting that the quotes come close to the upper boundary of the descending channel and in case of breaking through it will reach the level of 1200. The fall is limited by the levels of support 1150 and 1140. We maintain our positive outlook for the medium-term, but we can see the price drop in the near future.
Nearest resistance levels are 1175, 1180, 1200, 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1150, 1140, 1100
The price of Light sweet crude oil could not overcome the upper boundary of the channel and resistance at 47.00. According to our forecasts the price soon will overcome the support at 45.00 and will continue to move downwards to the level of 40.00. We continue to recommend holding short positions and maintain a medium-term negative outlook on oil.
Nearest resistance levels: 47.00, 49.00, 50.00, 52.00, 54.00, 58.50, 60.00, 64.00
Nearest support levels: 45.00, 44.00, 43.00, 40.00