02.06.2016 - Technical view on commodity futures

The price of gold is trying to gain a foothold beyond the local descending channel, and in case of breaking through a local maximum at 1220, we expect further growth of quotations with targets at 1230 and 1244. In case of resumption of growth quotations will return to the psychologically important mark of 1200 overcoming of which will be the basis for the further reduction of price to 1165 and 1140. Our medium-term outlook remains negative.

Nearest resistance levels: 1230, 1244, 1280, 1300, 1315, 1330

Nearest levels of support: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095

The price of Light sweet crude oil has broken the lower boundary of the rising channel and in the nearest future may continue to decline with targets at 47.00, 45.00 and 43.00. The signal to sell will be price fixing outside of the ascending channel. The growth in the nearest future is limited by the psychologically important level of 50.00. We maintain a negative outlook for the next week and expect a rise in volatility today.

Nearest resistance levels: 50.00, 51.50

Nearest support levels: 49.00, 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00

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