03.11.2015 - Technical view on commodity futures

The price of gold continues to decline gradually within local the descending channel and recently overcame the support level at 1140. This fact is а stimulus for the continuation of the negative dynamics of prices to the target levels at 1120 and 1100. The signal for changing the local downtrend will be price fixing above the levels of 1150. We expect a further fall in prices in near future, but its potential is reduced.

Nearest resistance levels: 1140, 1150, 1165, 1190, 1205, 1215, 1230

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

The price of Light sweet crude oil continues to consolidate near the levels 46,00-47,00 and further increase in prices in the near future, is possible to the levels of resistance at 48.00 and 50.00. It should be noted that for further rising dynamics quotations need a strong incentive. Our medium-term outlook remains negative and we are waiting for the fall of prices in the near future to the first target levels at 44.00 and 43.00.

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

Nearest support levels: 45.00, 44.00, 42.00, 40.00, 38.00

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