02.09.2016 - Technical view on commodity futures

The price of gold bounced upwards and reached the important level of 1315, and the upper limit of the downward channel. Fixing of quotes above this level will be a signal to buy with targets at 1330 and 1356. In the near future, the decline may continue within the descending channel with potential targets 1300 and 1280. Our medium-term outlook remains positive and we now expect a strong increase in volatility.

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 continues to decline along the inclined line of resistance after recently has broken through the support level at 45.00. The closest targets in case of further fall prices will reach 42.00 and 40.00. We maintain our medium-term objectives with negative outlook at 40.00 and 36.00, but we can see a correction in the near future.

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

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

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