The price of gold has fallen to the important support level at 1170 and rebounded of it. In case of breaking and fixation of quotations below this mark, we expect a price drop to 1150 and 1143. On the other hand, at the moment there is a high probability of upward movement of the price in the near future within the corridor 1170-1230. Our medium-term outlook remains positive and we expect the growth of quotations in the near future.
Nearest resistance levels: 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1170, 1150, 1143, 1100
The price of Light sweet crude oil could not continue to grow and overcome the strong resistance level at 61.70. It is worth noting that the quotes are consolidated within the triangle and the signal for the opening short positions with the first target at 57.00, will be fixing the price below the local minimum at 59.25. On the other hand, a buy signal will be overcoming and fixing the price above 61.70. Our medium-term outlook remains negative.
Nearest resistance levels: 61.70, 62.70, 64.00, 70.00
Nearest support levels: 59.25, 58.00, 57.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00