The price of gold after reaching the level of 1210started to correct upwards and now is consolidating near the mark of 1220. We expect the price to fall further in the near future with the objectives of 1200 and 1180. In this regard, we recommend holding short positions with a stop above 1244. Despite the short-term negative outlook, we expect the resumption of the upward trend in the medium term.
Nearest resistance levels: 1220, 1240, 1244, 1252, 1265, 1278, 1290, 1300, 1320, 1330
Nearest support levels: 1200, 1180
The price of Light sweet crude oil approached the level of 90.00, but started to correct upwards. In case of continued upward correction, the price may continue to rise to 92.50 and to the upper limit of the downward channel. We expect further price reduction to the next target at 90.00. For breaking through this mark will be needed a strong stimulus. Our medium-term outlook remains negative.
Nearest resistance levels: 92.50, 94.00, 95.00, 95.50, 96.00, 98.00, 100.00
Nearest support levels: 90.00, 89.00, 87.50