The price of gold corrected downwards and reached the strong level of 1180, but could not overcome it. At the moment, the quotes are corrected upwards and will soon reach the level of 1200. The fall in the price is limited by levels of support at 1170 and 1180. In order to continue the growth with the objectives at 1230, 1244 and 1252, the price needs to overcome the level of 1200. Our medium-term outlook remains positive and we recommend to accumulate long positions in gold.
Nearest resistance levels: 1200, 1215, 1230, 1244, 1252, 1265, 1278, 1290
Nearest support levels: 1180, 1140, 1120, 1100
The price of Light sweet crude oil after a long consolidation near the level of 55.00, has broken through the level of the local minimum at 54.00 and now is trying to fix below this mark. In case of success, quotes will continue to decline with the target at 50.00. Growth is limited by the levels of 58.50 and 60.00. We recommend holding short positions and maintain a medium-term negative outlook on oil.
Nearest resistance levels: 54.00, 58.50, 60.00, 64.00, 68.00, 70.00, 72.00, 74.00, 76.00
Nearest support levels: 50.00