The price of gold failed to gain a foothold outside the descending channel and resumed decline. At the moment, the price approached its lowest level since the beginning of the year and will soon reach the psychologically important level of 1200. Downward trend has a limited potential and we are likely to see the resumption of the upward movement. In the near future, the decline is likely to continue, but our medium-term outlook remains positive.
Nearest resistance levels: 1220, 1240, 1244, 1252, 1265, 1278, 1290, 1300, 1320, 1330
Nearest support levels: 1200, 1180
The price of Light sweet crude oil after consolidation near the level of 91.00 started to rise sharply and reached the upper limit of the downward channel, but could not overcome it, and will likely continue to fall within the channel. The next target level is 90.00 for the breaking of which will be needed a significant impulse. We maintain a medium-term negative outlook but note the decline of price growth potential.
Nearest resistance levels: 92.50, 94.00, 95.00, 95.50, 96.00, 98.00, 100.00
Nearest support levels: 90.00, 89.00, 87.50