The price of gold continued to decline and approached the strong support level near 1290. Further reduction is unlikely and we expect the growth of quotations to the level of 1305 in the near future. In case of continued upward trend, we recommend to open long positions after the price fixates above 1310 a signal to sell will be fixing the price below 1290. We maintain a medium-term positive outlook with the goals of 1350 and 1365.
Nearest resistance levels: 1310, 1320, 1330, 1340, 1350, 1365
Nearest support levels: 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil has broken through the lower boundary of the local descending channel and almost reached the target level of 98.50. At the moment the price is consolidating around the level of 99.00, and will likely continue to increase in the correction to 100.00. Despite the expected correction, we maintain a medium-term negative outlook with the target near 92.00.
Nearest resistance levels: 100.00, 101.60, 103.00, 103.50, 104.00, 104.60
Nearest support levels: 98.60, 96.60