The price of gold has broken through the level of support at 1200 and 1180 and reached the level of 1170. The continuation of a further fall is limited, but given the strong downward momentum, a drop in prices may continue. Despite this, we do not recommend to open short positions and wait for a signal to open long positions.
Nearest resistance levels: 1180, 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290, 1300
Nearest support levels 1150
The price of Light sweet crude oil was not able to continue to grow and has overcome the level of 82.50 and again approached an important support level of 80.00. For breaking this mark is needed a significant incentive. Given the long-term consolidation of price, we expect strong price movement in the near future. Our medium-term view on the price remains negative and we 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