The price of gold is consolidated around the level of 1315 after showed strong growth at the end of last week. According to our estimates consolidation may continue in the near future and after its completion more likely will be continued upward price movement. On the other hand, a signal to sell will be breaking through the support level at 1300. We expect growth of quotations in the coming weeks.
Nearest resistance levels: 1330, 1350, 1365
Nearest levels of support: 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150
The price of Light sweet crude oil within the strong upward impulse has reached the inclined line of resistance, and the psychologically important mark of 50.00. In case of overcoming and fixing the price above these levels, the growth will continue until 50,60 and 52,00. In the near future there is a high probability of price reduction with the first targets at 48.50 and 47.00. Our medium-term outlook remains negative.
Nearest resistance levels: 50,60, 52,00, 54,00, 56,00, 58,60
Nearest support levels: 48,50, 47,00, 46,50, 45,00, 43,00, 40,00, 37,30, 36,00, 35,00