The price of gold fell sharply following the consolidation above the level of 1200 and at the moment is corrected upwards after a rebound from the bottom of the channel. Within the correction quotes are likely to grow to the upper boundary of the channel. In case of continuation of the current dynamics, the price will fall to 1180 and 1170. We maintain our positive outlook for the medium-term, but in the near future the price of gold is likely to consolidate within the range of 1170-1230.
Nearest resistance levels: 1190, 1200, 1220, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1180, 1150, 1140, 1100
The price of Light sweet crude oil rebounded from the support level which coincides with a local minimum at 58.00. Within the increase, quotations may reach 60.00, and the upper limit of the downward channel. For the continuation of falling of the price, it is necessary to overcome the support level at 58.00. According to our forecasts, the price will decline in the medium term and quotations will reach the levels 52.00 and 48.00.
Nearest resistance levels: 59.00, 61.00, 62.70, 64.00, 70.00
Nearest support levels: 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00