The price of gold has broken through the psychologically important level of 1200 and an inclined resistance line. In case of continued upward movement, the closest target is the level of 1230, after reaching which we can see a correction. Drop in prices is limited by the level of support at 1200. We recommend to open long positions and maintain a medium-term positive outlook for the gold with the target near 1300.
Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1200, 1175, 1150, 1140, 1100
The price of Light sweet crude oil has overcome the level of 49.00, and the upper limit of the local rising channel. Due to the strong upward impulse, quotes, approached the level of 53.00, but could not overcome it. Further growth is limited by a strong resistance level at 54.00, for breaking of which will be needed a strong incentive. We expect continued growth in the near future, but the medium-term view remains negative.
Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00
Nearest support levels: 50.00, 49.00, 47.00, 45.00, 44.00, 43.00, 40.00