The price of gold was unable to gain a foothold above the level of 1200, and to overcome the inclined resistance level and currently is corrected downwards. In case of further fall and breaking through the level of 1200, quotations will drop to 1180 and 1170. Further growth is possible to the target levels 1215 and 1230. We expect the price growth in the medium term and forecast further consolidation of the price within the corridor 1170-1230 in the near future.
Nearest resistance levels: 1200, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1195, 1170, 1150, 1140, 1100
The price of Light sweet crude oil rebounded from the support level at 59.25 and the sloping support line. In case of further growth quotations will reach the target level of 61.70, a breaking of which will be the basis for continued growth to 62.70. On the other hand, fixing below 59.25 will be a signal for opening short positions with the targets at 58.00 and 57.00. We maintain a medium-term negative outlook and recommend to wait for the signal to open short positions.
Nearest resistance levels: 61.70, 62.70, 64.00, 70.00
Nearest support levels: 59.25, 58.00, 57.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00