04.12.2015 - Technical view on commodity futures

The price of gold corrected upwards to the level of resistance at 1065 and the upper boundary of the channel, and the overcoming of this level will be the basis for continued growth to 1080 and 1095. A more likely scenario according to our forecasts is a continuation of negative dynamics within the downward channel to the level of 1040. We expect increased volatility today and look forward to a further fall in prices.

Nearest resistance levels: 1065, 1080, 1095, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1050, 1040, 1000

The price of Light sweet crude oil rebounded from the level of 40.75 and reached the desired level of 42,00. Within the further growth, quotations will continue the upward movement to 43.65. The signal to buy will be the price fixing above 43.65. Breaking through the support at 40.75 will be the basis for further decline to 40.00 and 38.00. Our medium-term outlook remains negative and we are waiting for the sharp price movements.

Nearest resistance levels: 42.00, 43.65, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50

Nearest support levels: 40.75, 40.00, 38.00, 35.00

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