The price of gold continued to rise after rebounded from the support level at 1200. At the moment quotations are trying to overcome the upper boundary of the triangle and in case of fixing the price above the level of 1230 will continue to rise until 1244, 1256 and 1265. On the other hand, in case of resumption of negative dynamics, the signal to sell with the objectives at 1165 and 1140 will be the price fixing below 1200. Our medium-term outlook remains negative, but the current upward movement may continue in the near future.
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 has broken through the lower boundary of local ascending channel and at the moment is near a local minimum around 31.60. Fixing the price below this level will be the basis for further price reduction to 30.00, after which the decline may continue until 28.00. In case of the price rebound, quotations may return to the marks 33.00 and 34.00. Our medium-term outlook remains negative and we expect a decrease in the near future.
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