01.09.2016 - Technical view on commodity futures

The price of gold continues to decline within the local descending channel after fixed below the level of 1315. In case of overcoming the level of support at 1300, we are forecasting a drop to 1280 and 1244. On the other hand, there is a possibility of rebound of quotations from the psychologically important level of 1300, and in this case, quotations may return to the levels of 1315 and 1330. Our medium-term outlook remains negative.

Nearest resistance levels: 1315, 1330, 1356, 1375, 1400, 1430, 1450

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

The price of Light sweet crude oil continued to fall after has broken through the support level at 46.30. As a result, quotations reached an important level of 45.00 fixation below which will be the basis for the continuation of negative dynamics of price to 43.00 and 40.00. At the moment, there is an increased probability of price rebound within the correction to the level of 46.30. Our medium-term outlook remains negative.

Nearest resistance levels: 48,50, 50,60, 52,00, 54,00

Nearest support levels: 46,30, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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