The price of gold approached the nearest support level at 1080 and in case of breaking through this mark, will continue to decline to the target level at 1060 and 1050. In order to change the current negative trend to positive, quotes need to break through the upper boundary of the channel and fix higher than 1100. We expect the price to continue to fall soon.
Nearest resistance levels: 1110, 1120, 1143, 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1080, 1060, 1050, 1100
The price of Light sweet crude oil after two unsuccessful attempts to overcome the resistance at 49.65, resumed its decline according to our estimates is likely to fall to 47.00 in the near future. For changing the negative trend to positive, quotations must overcome the resistance at 51.50. In this case the nearest target will be 54.00. We maintain a medium-term negative outlook.
Nearest resistance levels: 49.65, 50.00, 51.50, 52.00, 54.00, 55.00, 57.00, 58.00, 59.25
Nearest support levels: 48.00, 47.00, 45.00