The price of gold has broken through the bottom of the triangle and the level of the nearest local minimum at 1285 and reached 1262. Within the correction the price can rise to 1278, but in the medium term, the price of gold will likely continue to decline with the first target around 1250. We revise medium-term outlook to negative, but we expect the growth resumption of gold in the long run.
Nearest resistance levels: 1278, 1290, 1305, 1316, 1330, 1350
Nearest support levels: 1260, 1250, 1220
The price of Light sweet crude oil continues to consolidate above 104.00 and reached the lower limit of the local rising channel. In case of decrease, a signal to sell will be fixing the price below 103.50. Further growth is limited by the upper boundary of the channel and the resistance level at 105.00. We maintain a long-term negative outlook for oil.
Nearest resistance levels: 104.60, 105.00
Nearest support levels: 104.00, 103.00, 102.00, 101.00, 100.40