03.10.2016 - Technical view on commodity futures

The price of gold has continued the fall within the local descending channel. Currently quotes are near the level of 1315, and its overcoming will be the basis for the continuation of the negative dynamics of price up to 1300. According to our forecasts, the overcoming of this level is unlikely, and we expect the price growth in the medium term with the first targets at 1330 and 1356.

Nearest resistance levels: 1330, 1356, 1375, 1400, 1430, 1450

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

The price of Light sweet crude oil continues to consolidate below 48.50 and in case of overcoming this level, we expect growth of quotations to 50,00-50,60. According to our estimates, at the moment there is a high probability of resumption of the negative dynamics of price and in such a case, the closest targets will be 47.00, 45.00 and 43.40. Our forecast for the near future is negative and growth potential significantly declined.

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

Nearest support levels: 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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