The price of gold continued to fall and reached the level of support at 1244 and then rebounded upwards to 1260. In case of continued upward dynamics, quotations may return to an inclined line of resistance and the level of 1280. Our medium-term outlook remains negative, but the current correction may continue in the near future.
Nearest resistance levels: 1280, 1300, 1315, 1330
Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095
The price of Light sweet crude oil restored the previously lost ground and is currently located around the level of 49.00. A further increase in price level is limited by the psychologically important mark at 50.00, for overcoming of which will be necessary a substantial boost. On the other hand, at the moment there is a high probability of price correction to the closest targets near the lower boundary of the rising channel and the level of 47.00. Our forecast for next week is negative.
Nearest resistance levels: 49.00, 50.00, 51.50
Nearest support levels: 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00