05.01.2016 - Technical view on commodity futures
The price of gold has shown growth and reached the resistance level of 1080, but could not overcome it, and continues to consolidate below this level. In case of its overcoming, quotes will continue to rise till 1090 and 1100. It is worth noting that at the moment there is a possibility to sell with a short stop above 1080 and targets at 1065 and 1050. Our medium-term outlook is negative and we expect the fall in the near future.
Nearest resistance levels: 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205
Nearest support levels: 1065, 1050, 1040, 1000, 960
The price of Light sweet crude oil has shown a strong growth, but could not overcome the level of 39.00 and corrected downwards. In order to continue negative dynamics, quotations need to overcome the support at 36.00 and in this case the decline will continue till 35.00 and 33.00. Our medium-term outlook remains negative and the signal for changing the negative trend to the positive will be the price fixing above the level of 39.00.
Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00
Nearest support levels: 36.00, 35.00, 32.00, 30.00