The price of gold could not continue to grow and has overcome the resistance level at 1230. At this point quotations adjusted downwards and try to gain a foothold below 1210. In case of the continuation of the downward movement, the price will continue to fall to the bottom of the channel and the level of 1190. According to our forecasts, the price will move within the rising channel soon. Our medium-term outlook remains positive, but the decline may continue in the near future.
Nearest resistance levels are 1220, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1200, 1190, 1180, 1150, 1140, 1100
The price of Light sweet crude oil decreases after breaking through the lower boundary of the rising channel, and at the moment is trying to gain a foothold below the local minimum. In case of success, we recommend to open short positions with targets at 52.00 and 48.00 and the stop above 63.00. Our medium-term outlook is negative and we with a high probability predict drop in oil prices in the near future.
Nearest resistance levels: 59.00, 60.40, 62.70, 64.00, 70.00
Nearest support levels: 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00