The price of gold after reaching the support level at 1165 and some consolidation above this mark started to grow and approached the level of 1175. Within the frames of the current upward movement, quotations may continue to rise to a local maximum at 1190 and the psychologically important mark at 1200. Our short-term outlook remains positive and the drop soon is limited by the level 1165.
Nearest resistance levels: 1190, 1205, 1215, 1230
Nearest support levels: 1165, 1150, 1140, 1120, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil rebounded from the level of 45.00, but continues to move above the upper boundary of the local descending channel and according to our estimates, with a high probability will reach the level of 44.00 in the near future. In case of breaking through the upper boundary of the channel, the quotes can grow up to 48.00. We recommend holding short position with the first target at 44.00 and keep the medium-term negative outlook.
Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 44.00, 42.00, 40.00, 38.00