The price of gold continues to consolidate within the corridor 1278-1300. At the moment, quotes are located near the lower limit of the corridor and in the case of consolidation below 1278 may fall to the level of 1265 and 1252. In order to continue the upward trend, quotations need to overcome the level of 1300. We expect the growth of price in the medium term with the potential growth to 1330 and 1350, but we may see a correction in the near future.
Nearest resistance levels: 1300, 1330, 1350
Nearest support levels: 1278, 1265, 1252, 1244, 1230, 1215, 1200, 1180, 1140
The price of Light sweet crude oil continues to move along the upper boundary of the descending channel. At the moment, quotes have broken through the support level at 45.00 and try to consolidate below this mark. In case of success we expect a price drop with the first target at 40.00. For changing the negative trend the price needs to move beyond the channel and to fix above the strong resistance level at 50.00. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 50.00.
Nearest resistance levels: 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 43.00, 40.00