The price of gold continued to decline inside the descending channel and reached its lower limit. At the moment, quotes rebounded upwards and may continue to rise to the upper boundary of the channel and the level of 1190. In case of overcoming the support at 1170, we expect continued downward price movement to 1150. Our medium-term outlook remains positive, but the fall is likely to continue in the near future.
Nearest resistance levels are 1190, 1210, 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1180, 1150, 1140, 1100
The price of Light sweet crude oil continues to consolidate within the corridor 56,00-58,00. In case of overcoming the important level of 58.00, we expect continued growth of quotations inside the rising channel and reaching the psychological level of 60.00. At the same time, the more likely is a continuation of price consolidation near the current levels in the near future, after which the downward movement resumed. Sell signal will break through the lower boundary of the rising channel and fixing the price below 56.00. Our medium-term outlook for oil remains negative.
Nearest resistance levels: 58.00, 60.00, 64.00
Nearest support levels: 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00, 45.00, 44.00, 43.00