The price of gold has broken through the number of resistance levels and reached a strong level of 1315 above which is trying to gain a foothold now. In case of rolling back down, the quotes may decline to 1305. In case of further rise, the price probably will reach 1330. We maintain a positive outlook for the medium-term, but expect the downward price correction today.
Nearest resistance levels: 1330, 1350
Nearest support levels: 1305, 1290, 1278, 1265, 1252, 1244, 1220, 1220, 1180
The price of Light sweet crude oil increased within the local descending corridor and now is consolidating around the level of 106.00. Within the descending channel, the price may drop to a strong level of 104.00. For renewed growth, the price needs to break through the inclined resistance line and to gain a foothold above 106.20. We maintain a positive medium-term outlook for oil.
Nearest resistance levels: 107.00, 110.00
Nearest support levels: 105.00, 104.60, 104.00, 103.00, 102.50, 101.90