03.08.2016 - Technical view on commodity futures

The price of gold continues its growth after overcoming the level of 1350. In the near future may continue to the growth 1375 and overcoming this level will be the basis for further price increase until 1400. In case of a change of trend to negative, a signal to sell with potential targets at 1330 to 1315 will be fixing below the level of 1350. Our medium-term outlook 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 fall within the local downward channel and at the moment is trying to gain a foothold below the psychologically important level of 40.00. In case of success, the target levels will be 37.30 and 36.00. In case of breaking through the upper boundary of the rising local channel growth may continue until the 42,00 and 43,00. We maintain our medium-term negative outlook, but expect a correction In the near future.

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

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

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