02.09.2015 - Technical view on commodity futures

The price of gold was not able to reach the level of 1150 and started to correct downward. Falling the price in the near future is limited by an inclined support line. And in case of its overcoming the price may fall to 1120 and 1100. At the moment, is likely the continuation of increase to 1165, but for this the price needs to overcome the level of 1150. Our short-term outlook remains positive.

Nearest resistance levels: 1150, 1165, 1195, 1205, 1215, 1230

Nearest support levels: 1140, 1120, 1110, 1100, 1080, 1060, 1050, 1100

The price of Light sweet crude oil after reaching the level of 49.65 and the upper limit of the downward channel, began to corrected downwards and currently is consolidating near the important level 45.00. At the moment, there is a great probability of further negative dynamics of the price to the target levels 42,00 and 40,00. Rising the price is limited by the upper limit of the downward channel. Our medium-term outlook remains negative.

Nearest resistance levels: 45.00, 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00

Nearest support levels: 44.50, 42.00, 40.00, 38.00

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