The price of gold after a long consolidation strongly reduced and has broken through the level of 1210. At the moment, quotes approached the level of 1200 and will continue to decline to the level of 1180 where there is a strong support level near which we recommend to re-open long positions. In the near future the price of gold is likely to continue to decline, but the medium-term outlook remains negative.
Nearest resistance levels: 1220, 1230, 1244, 1252, 1265, 1278, 1290, 1300
Nearest support levels: 1200, 1180
The price of Light sweet crude oil has broken through the sloping line of resistance and reached the level of 82.50. Despite yesterday's rise, the price is back to the levels of the previous day. To continue the fall, the price should break through the strong support level of 80.00 and is consolidating below it. We maintain a medium-term negative outlook and recommend holding short positions with a stop above 84.00.
Nearest resistance levels: 84.00, 85.50, 87.00, 89.00, 90.00, 92.00, 94.20, 95.00, 95.50
Nearest support levels: 80.00, 77.00, 75.00