The price of gold was not able to gain a foothold above the level of 1150 and started to correct inside the rising channel. In case of breaking through the lower boundary of the channel, we expect a further fall in price until 1120. Now there is a probability of a rebound from the border of price channel and the return of the price to 1150. We expect growth in the near future.
Nearest resistance levels: 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1120, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil rebounded from the support level at 44.00 and currently is consolidating near the level of 45.50. Growth of price is limited by the sloping resistance line and the mark 47.00. Breaking through the support at 44.00 will confirm the signal for opening short positions with the targets at 42.00 and 38.00. Our medium-term outlook remains negative.
Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 44.00, 42.00, 40.00, 38.00