04.03.2016 - Technical view on commodity futures

The price of gold was able to break through the resistance level at 1244 and reached another important mark on 1265, after overcoming of which the growth may continue until 1280. In case of correction, quotations may return to the support at 1244, and the lower boundary of the rising channel. We maintain our medium-term negative outlook, but the current growth may continue in the near future.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil continues to grow along the inclined support line and reached the resistance at 36.00, fixing above which will be the basis for further growth of prices up to 38,00 and 40,00. More likely is the resumption of the negative dynamics after breaking through the inclined support line. According to our forecast the price will decline in the medium term and the first targets will be 33.00, 31.00 and 28.00.

Nearest resistance levels: 36.00, 38.00, 40.00, 40.75, 42.00

Nearest support levels: 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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