06.05.2016 - Technical view on commodity futures

The price of gold returned to the ascending channel’s frames and broke through the level of 1280. In case of continued negative dynamics, quotations will reach the next support levels at 1265 and 1244. In case of the resumption of positive dynamics quotations may return to the level of 1300. Our medium-term outlook remains negative, but we do not rule out repeated testing of the level 1300.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095

The price of Light sweet crude oil after a sharp rise yesterday, resumed its fall and came close to the lower boundary of the ascending channel. In case of continued negative dynamics and fixing of price below the level of 43.00, we expect further reduction in prices to the levels of 40.00 and 37.30. The growth in the near future is limited by the levels of 45.00 and 47.00. Our medium-term outlook remains negative.

Nearest resistance levels: 45.00, 47.00, 49.00, 50.00, 51.50

Nearest support levels: 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00

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