The price of gold continues to consolidate within the triangle and is trading near the level of 1300. We expect a strong movement after breaking through the boundaries of the triangle. The signal to buy will be fixing the price above 1305. A signal to sell will be price fixing below 1285. We keep medium and long term negative outlook for gold.
Nearest resistance levels: 1305, 1316, 1330, 1350
Nearest support levels in 1285, 1278, 1265
The price of Light Sweet crude oil has reached the upper limit of the local rising channel and level of 103.00, but failed to gain a foothold above it and began to correct downwards. To continue the upward movement, the price needs to gain a foothold above 103.00. We expect a continuation of the downward movement within the channel to the level of 102.00 and save medium and long term negative outlook for oil.
Nearest resistance levels: 103.00, 104.00
Nearest support levels 102.00, 101.40, 104.00