The price of gold continued to fall and broke through the strong support level at 1278, but failed to gain a foothold below it and now is consolidating above this mark. In case of continued fall, the price can reach the levels 1265, 1252, and 1244. In order to change the local downtrend, the price needs to break through the inclined resistance level and to gain a foothold above 1290. Descending movement may continue in the near future, but we keep the medium-term negative outlook.
Nearest resistance levels: 1290, 1300, 1320, 1330, 1340, 1350, 1365
Nearest support levels: 1278, 1265, 1252, 1244
The price of Light sweet crude oil again rebounded from the sloping support line and corrected to the level of 94.00, below which continues to consolidate today. In case of further correction, the price may reach 96.00. We look forward to continuing the downward movement to the level of 92.00, after which we can see a substantial correction. Our medium-term outlook remains negative.
Nearest resistance levels: 94.00, 95.20, 96.00, 98.00, 100.00, 101.60, 103.00
Nearest support levels: 92.00, 91.60, 91.00, 90.00