01.12.2015 - Technical view on commodity futures

The price of gold broke through the upper limit the downward channel, and may soon return to the important level of 1080, the overcoming of which will be the basis for further growth of quotations to 1095-1100. The immediate objectives in case of reduction will be 1065 and 1050. The medium-term trend remains negative and the current growth is probably just a correction. In the near future the fall is likely to continue.

Nearest resistance levels 1080, 1095, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1065, 1050, 1040, 1000

The price of Light sweet crude oil is consolidating above 42.00 and in case of overcoming of this support will be able to return to the local minimum around 41.00 and continue to decline to 40.00 and 38.00. On the other hand quotations may reach the upper limit of the channel in case of overcoming the resistance level at 43.65. We maintain a negative medium-term outlook and the increased volatility in the coming days.

Nearest resistance levels: 43.65, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50

Nearest support levels: 42.00, 40.00, 38.00

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