The price of gold continues to consolidate below the psychological mark of 1300 within the triangle. The signals to buy will be fixing the price above the level of 1305. In such case, the targets will be the levels of 1316, 1330 and 1350. In case of decline, a signal to sell will be breaking through the lower boundary of the triangle and price fixing below 1285. We keep medium and long term positive outlook for gold.
Nearest resistance levels: 1305, 1316, 1330, 1350
Nearest support levels: 1290, 1285, 1278, 1270
The price of Light sweet crude oil continued to rise and reached the upper boundary of the rising channel local and resistance level at 104.00. For continued growth within the channel, the price needs to gain a foothold above this mark. In case of decrease the price will reach the bottom of the channel and the support at 103.00. We expect a corrective movement and maintain a long-term negative outlook for oil.
Nearest resistance levels: 104.00, 105.00
Nearest support levels: 103.00, 102.00, 101.00, 100.00, 99.30, 98.40