05.09.2016 - Technical view on commodity futures

The price of gold broke through the upper limit of the local downward channel and the local maximum at 1315, which was the reason for continued growth. The closest target levels at the moment are 1330 and 1356. The fall is limited by support at 1300. Our medium-term outlook remains positive, but in the near future the price may continue to consolidate between the levels of 1300 and the inclined resistance line.

Nearest resistance levels: 1330, 1356, 1375, 1400, 1430, 1450

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

The price of Light sweet crude oil has broken through the inclined resistance line and increased to the level of 45.00 and the lower boundary of the local descending channel, the limits of which has left earlier. In case of overcoming the level of 45.00, we expect a further increase to 46.30, a breaking through which in the near future is unlikely. Our medium-term outlook remains negative with the targets at 42.00 and 40.00 and we expect a decrease in the near future.

Nearest resistance levels: 45,00, 46,30, 48,50, 50,60, 52,00, 54,00

Nearest support levels: 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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