The price of gold started to decline after a long consolidation near the important level of 1200. At the moment, the price reached an important level of 1180 and the lower limit of the local rising channel and now there is a good chance of the price rebound from these levels. To continue the upward movement of the price must be fixed above the level of 1205 and breaking through 1210. In case of consolidation below 1180, the price is likely to fall to 1160 and 1140. We maintain our medium-term positive outlook.
Nearest resistance levels: 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1180, 1140, 1120, 1100
The price of Light sweet crude oil has broken through the level of 72.00 and after reaching the target level of 70.00 continued the downward movement. It is worth noting that the quotes broke through the bottom of the channel and after some consolidation is likely to continue falling. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 72.00 and the target at 60.00.
Nearest resistance levels: 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00, 84.00
Nearest support levels: 66.00, 63.00, 60.00