The price of gold again failed to overcome the resistance level of 1300 and corrected downwards. In case of continued downward movement and breaking through the level of 1278 will be completed the formation of reversal pattern - double top, and then we can see the price decline to the levels 1350 and 1330. Our medium-term outlook remains positive and we recommend holding long positions.
Nearest resistance levels: 1300, 1330, 1350
Nearest support levels: 1290, 1278, 1265, 1252, 1244, 1230, 1215, 1200, 1180, 1140
The price of Light sweet crude oil continues to consolidate near 47.50 the level of and the upper limit of the downward channel. If the price fixates above the upper boundary of the channel the price may rise to 50.00. We expect continued downward movement of prices in the near future with the objectives at 45.00 and 40.00. We also keep the recommendation to hold short positions.
Nearest resistance levels: 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 45.00, 43.00, 40.00