The price of gold after the recent drop to 1200, rebounded upwards, and in the near future is likely to reach the upper boundary of the triangle. In case of breaking through and fixation above 1230, quotations will continue to rise to 1256 and 1265. According to our forecasts, the fall of price will resume and the sell signal will be fixing of quotations below the level of 1200. The target level in this case will be 1165 and 1140 and a stop will be local a maximum near 1230. Our medium-term outlook remains negative.
Nearest resistance levels: 1230, 1244, 1256, 1280, 1300
Nearest support levels: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065
The price of Light sweet crude oil after a sharp rise has reached the level 34.00, but then resumed its fall and is currently below the important support level at 33.00. In the near future quotations will reduce to the local ascending channel's lower border, which break through lead to the decline price to 31.00 and 30.00. Our medium-term outlook remains negative in case of opening short positions with target at 28.00, we recommend installing a stop above 35.00.
Nearest resistance levels: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00
Nearest support levels: 31.00, 30.00, 28.00, 25.00, 22.00, 20.00