The price of gold is consolidated between the upper boundary of the descending channel and the level of support at 1065. The breaking of the boundary of the channel and overcoming of the level of 1180 will lead to further increase of price to 1095-1100. On the other hand, more likely is a further price reduction within the channel to the levels 1050 and 1040. We forecast a drop in prices in the coming weeks.
Nearest resistance levels: 1080, 1095, 1100, 1120, 1140, 1150, 1165, 1190, 1205, 1215
Nearest support levels: 1065, 1050, 1040, 1000
The price of Light sweet crude oil after reaching the local maximum at 43.65, started to correct downwards and may fall to the level of support at 42.00 and after breaking through it may continue negative trend with the potential of fall to 40.00 and 38.00. The growth of quotations is limited by resistance levels at 44.00 and 45.00. We expect a further decline in oil prices in the medium term and consolidation in the near future.
Nearest resistance levels: 43.65, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50
Nearest support levels: 42.00, 40.00, 38.00