The price of gold corrected upwards after a minor consolidation of the price above 1185. Further growth is limited by the upper boundary of the descending channel. For the continued growth, the price is needed to go beyond the channel boundaries and to gain a foothold above the level of 1200. The drop in prices within the channel can lead to reaching of the levels 1170 and 1150. Our medium-term outlook remains positive, but soon quotes will likely continue to move in the range 1170-1230.
Nearest resistance levels: 1200, 1220, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1180, 1150, 1140, 1100
The price of Light sweet crude oil fixed below the level of 59.00 and continued the fall during which has overcome the local minimum at 58.00. This fact is a confirmation of the signal for opening short positions. We expect a further decline in the near future and in the medium term and recommend holding short positions with a stop above 60.00 and objectives at 52.00 and 48.00.
Nearest resistance levels: 58.00, 59.00, 61.00, 62.70, 64.00, 70.00
Nearest support levels: 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00