The price of gold after the rebound from the level of 1050 has reached the upper limit of the downward channel, and in case of overcoming it will continue to rise until 1080. It is worth noting that consolidation above 1190 will be the completion of the double bottom, which is a reversal formation. In the near future, according to our forecasts the price fall will resume and quotes will return to the level of 1050, after which the decline may continue.
Nearest resistance levels: 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205
Nearest support levels: 1065, 1050, 1040, 1000, 960
The price of Light sweet crude oil returned to the important level of 36.00 and now is consolidating near this level. Its overcoming will be the cause for the further decrease with potential objectives at 35.00 and 32.00. In case of price rebound from this level, growth is possible to 37,00 and 38,00. Our medium-term outlook remains negative, but we do not rule out a correction in a downward channel in the near future.
Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00
Nearest support levels: 36.00, 35.00, 32.00, 30.00