The price of gold has broken through the inclined resistance line and fixed above an important level of 1200. At the moment, quotes approached the upper boundary of the downward channel. Signal of changing the negative trend to positive will be breaking through the upper boundary of the descending channel and fixing above 1220. In this case, we recommend opening long positions with growth potential to the first targets at 1244 and 1256. Our medium-term outlook remains negative.
Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330, 1350
Nearest support levels: 1200, 1180, 1140
The price of Light sweet crude oil failed to gain a foothold below 50.00 and after some consolidation above 49.00, began to grow. At the moment, after the quotes are gradually declining and may return to the psychologically important level of 50.00. According to our forecasts drop in the price will continue in the near future. We recommend holding short positions and maintain a medium-term negative outlook with the potential fall to 45.00.
Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00