06.09.2016 - Technical view on commodity futures

The price of gold continues to rise gradually after the recent rebound from the levels close to the psychologically important support at 1300. In case of continued upward dynamics and overcoming the inclined resistance line, we forecast growth to 1356 and 1375. The fall is limited by the level of 1300. Our medium-term outlook remains positive with potential targets 1400-1430.

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 showed strong growth of volatility within the rising impulse has reached the upper limit of the local downtrend channel. Currently quotes are above the level of 45.00 and rising in the near future is limited by the upper border of the channel and the resistance level at 46.30. We maintain our medium term negative outlook and expect reduction in the short term with the first targets at 42.00 and 40.00.

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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