05.07.2016 - Technical view on commodity futures

The price of gold showed some consolidation after reached the level 1350 and started to correct downwards. In case of continued negative dynamics, quotations will drop to 1330 and 1315. On the other hand, there is a high probability of overcoming the resistance of 1350 that will be the basis for further growth of the price to 1365 and 1400. Our forecast for the medium term remains positive.

Nearest resistance levels: 1350, 1365, 1400

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil could not overcome an inclined resistance line and resumed the downward movement. As a result, quotations broke through an important level of 48.50, which was the basis for the continuation of negative dynamics of price to 46.30. Growth is limited by the levels 49,50-50,60. Our medium-term outlook remains negative and we expect a continuation of the current momentum in the nearest future.

Nearest resistance levels: 48,50, 50,60, 52,00, 54,00, 56,00, 58,60

Nearest support levels: 47,00, 46,50, 45,00, 43,00, 40,00, 37,30, 36,00, 35,00

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