02.08.2016 - Technical view on commodity futures

The price of gold after some consolidation around the level of 1350 continued to rise and in the near future can reach this year's highs around 1375 after overcoming of which quotes can continue to grow to 1400. In case of correction, quotations may return to the levels of 1330 and 1315. Our medium-term view remains positive.

Nearest resistance levels: 1375, 1400, 1430, 1450

Nearest levels of support: 1350, 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil continued the decline during which reached the psychologically important level of 40.00. In this regard, we do not exclude the upward rebound of price to 42.00. On the other hand, overcoming the support at 40.00, will be the signal for the continuation of the upward price dynamics with potential targets at 37.30 and 36.00. Our medium-term outlook remains negative, but the likelihood of short-term correction has increased.

Nearest resistance levels: 43,00, 45,00, 46,30, 47,00, 48,50, 50,60, 52,00, 54,00, 56,00

Nearest support levels: 40,00, 37,30, 36,00, 35,00

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