04.08.2016 - Technical view on commodity futures

The price of gold has broken the lower boundary of the local rising channel and returned to the important level of 1350. In case of fixing below this level, quotes will continue to decline to 1330 and 1315. We do not exclude the rebound of price upwards with potential targets at 1375 and 1400 in the near future. Our medium-term outlook remains positive, but the current decline may continue in the near future.

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 broke through the upper boundary of the local descending channel after failed to overcome strong support at 40.00 and started to correct. As a result, quotations rose within the correction to the level of 42.00. Further growth within the correction is limited by the resistance level at 43.00. Our medium-term outlook remains negative, and after overcoming the support at 40.00, next targets will be 37,30 and 36,00.

Nearest resistance levels: 42,00, 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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