The price of gold shows corrective gains after fell in previous days. At the moment the price is near the inclined line of resistance and the level of 1230. Taking into account this fact, there is a high probability of price reduction in the near future with the first target 1200, after which the fall may continue till 1165. On the other hand, a breaking of these levels will be reason for growth until 1244. Our medium-term outlook remains negative.
Nearest resistance levels: 1230, 1244, 1280, 1300, 1315, 1330
Nearest levels of support: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095
The price of Light sweet crude oil has reached the psychologically important level of 50.00, after has overcome the resistance at 49.50. In case of continued upward dynamics, the closest target level will be 51.50. On the other hand, breaking through and fixation of price outside the rising channel's lower border will become a signal to sell with targets at 45.00, 43.00 and 40.00. Our forecast for next week remains negative, but we do not exclude the continuation of growth within the current uptrend.
Nearest resistance levels: 49.50, 50.00, 51.50
Nearest support levels: 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00