The price of gold corrected down to the boundary of the channel which has left earlier. At the moment, the price renewed growth, which may continue until 1080. Fixing above this mark will be the basis for further upside to 1090 and 1080. On the other hand, the overcoming of support will lead to a continuation of the negative dynamics to a strong support level at 1050. We expect price reduction of gold in the coming weeks.
Nearest resistance levels: 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205
Nearest support levels: 1065, 1050, 1040, 1000, 960
The price of Light sweet crude oil after an unsuccessful attempt to overcome the support level at 36.00, started to correct upwards and reached a strong level of 38.00. In addition, quotes, came close to the upper boundary of the descending channel and its overcoming can lead to a further increase in price to 40,00-40,75. A more likely scenario according to our forecasts is the resumption of the negative dynamics with the objectives at 36.00, 35.00 and 32.00. Our medium-term outlook remains negative.
Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00
Nearest support levels: 36.00, 35.00, 32.00, 30.00