05.10.2015 - Technical view on commodity futures
The price of gold was not able to reach the target level 1100 and corrected upwards. Within the growth quotations reached the level of 1140. At the moment, quotes adjusted downward, and may continue decline until 1130. Growth is limited by the resistance levels at 1150 and 1165. According to our estimates, the movement of quotations in the near future will continue within the range of 1100-1150. Our short-term outlook is negative.
Nearest resistance levels 1140, 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels 1120, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil after the recent decline to the levels close to the support at 44.00, began to grow within the corridor 44,00-47,00. Fixing of quotes outside of this range will confirm the signal for the opening new positions with the targets at 49.65 and 51.50 in case of growth and 42.00 and 38.00 in the case of a fall. We expect the resumption of the negative dynamics of price after the end of the upward movement in prices.
Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 44.00, 42.00, 40.00, 38.00