The price of gold returned to the descending channel after breaking through the support level at 1065. In case of continued downward price movement within the channel, we expect a further decline in price to 1050, after which the negative trend may continue until 1000. The signal for opening long positions will be fixing the price above 1080. Our medium-term outlook remains negative and we are waiting for the decline in the near future.
Nearest resistance levels: 1065, 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205
Nearest support levels: 1050, 1040, 1000, 960
The price of Light sweet crude oil was not able to continue to grow after reaching the level of 38.00 and the upper limit of the downward channel. At the moment, quotations are located around the level of 37.00, and may continue the decline to a level of 36.00 in the near future. The breaking of this level will be the basis for a further drop in prices to 35,00 and 33,00. Our medium-term outlook remains negative.
Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00
Nearest support levels: 36.00, 35.00, 32.00, 30.00