01.07.2016 - Technical view on commodity futures

The price of gold after reaching the level of 1315, and some consolidation near it, could not continue to decline within the correction and has resumed a positive dynamics. In case fixing of quotations above 1330, we expect continued growth with potential targets at 1350 and 1400. Our forecast for the near future remains positive.

Nearest resistance levels: 1350, 1365, 1400

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil was not able to overcome the inclined resistance line and the psychologically important level of 50.00. As a result, quotes have fallen to the support level at 48.50 breaking of which will become a signal for further decline with targets at 46,30-47,00. Our medium-term outlook remains negative and we expect continuation of falling prices after some consolidation above 48.50.

Nearest resistance levels: 50,60, 52,00, 54,00, 56,00, 58,60

Nearest support levels: 48,50, 47,00, 46,50, 45,00, 43,00, 40,00, 37,30, 36,00, 35,00

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