The price of gold continues a gradual increase after has broken through the upper limit of the downward channel. In case of further growth, confirmation of the buy signal will be fixing the price above the level of 1200. In this case, we expect growth to 1230 and 1265. The resumption of the downward movement will lead to a price drop to the levels of 1175 and 1150. Our medium-term outlook for gold remains positive.
Nearest resistance levels: 1200, 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1175, 1150, 1140, 1100
The price of Light sweet crude oil continues to grow gradually within the local rising channel. At the moment, quotes are trying to gain a foothold above 47.00 and in case of success will continue to rise to 49.00. According to our forecasts drop in prices will resume soon and fixing the price below 45.00, will be the basis for further decline to 40.00. Our medium-term outlook is also negative.
Nearest resistance levels: 49.00, 50.00, 52.00, 54.00, 58.50, 60.00, 64.00
Nearest support levels: 47.00, 45.00, 44.00, 43.00, 40.00