The price of gold after reaching the upper boundary of the channel continued to fall and now has broken through the support level at 1200. This fact is the basis for the further drop in prices with the objectives at 1180 and 1170. In case of changing local trend to positive, the price may rise to 1220 and 1230. We keep medium-term positive outlook, but soon quotes will probably continue to move within the range of 1170-1230.
Nearest resistance levels: 1200, 1220, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1190, 1180, 1150, 1140, 1100
The price of Light sweet crude oil is trying to gain a foothold below the level of 60.00, and continues moving inside the descending channel. More likely is a continuation of the downward movement of quotations in the near future and confirming a sell signal will be breaking through the local minimum at 58.00. Our medium-term outlook remains negative and we expect the decline to 52.00 and 48.00.
Nearest resistance levels: 61.00, 62.70, 64.00, 70.00
Nearest support levels: 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00