03.02.2016 - Technical view on commodity futures

The price of gold after fixing the price above the level of 1110 continues to grow within the local rising channel and in the near future may continue to rise to 1140 and 1150. In case of breaking through the lower boundary of the local ascending channel, quotes can decline to 1110 and 1100. Our medium-term outlook is negative, but current growth may continue in the near future.

Nearest resistance levels: 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1120, 1110, 1095, 1080, 1065, 1050, 1040, 1000, 960

The price of Light sweet crude oil continued to decline after breaking the lower border of the local rising channel. As a result, quotations approached the level of 30.00 and corrected upwards. Within the correction, the price can return to the level of 33.00, but more likely is the resumption of the negative dynamics in the near future with the targets at 28.00 and 25.00. Our medium-term outlook remains negative.

Nearest resistance levels: 31.00, 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65

Nearest support levels: 30.00, 28.00, 25.00, 22.00, 20.00

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