06.10.2015 - Technical view on commodity futures

The price of gold after a minor correction renewed growth and approached the level of 1140. In case of breaking through this mark, we will see continued growth to 1150 and 1165. Within the correction, the quotations can return to the support of 1120. According to our estimates the growth potential in the near future is low, and quotes will likely to continue movement in the range 1100-1150.

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 started to correct after hitting an important resistance level at 47.00. And in the near future with a high probability will continue negative dynamics till the support level at 44.00. If the price fixates above $ 48.00, we recommend to open long positions with the targets at 49.65 and 51.50. Our medium-term outlook remains negative with the potential of fall to 42.00 and 38.00.

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

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