07.01.2016 - Technical view on commodity futures

The price of gold after a correction below the level 1080, was able to overcome it and continued growth during which has reached an important level of 1100. Quotations were not able to overcome it, and began to correct downwards. In case of fixing above 1100, rising dynamics will continue until 1120 and 1140. Today we can see the continuation of the correction.

Nearest resistance levels: 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1090, 1080, 1065, 1050, 1040, 1000, 960

The price of Light sweet crude oil indicates a strong decline inside the descending channel as a result of which has reached the its lower limit and the level of 33.00. After a strong decline, the quotes can correct upwards and return to the levels of 35.00 and 36.00. We expect a continuation of the negative dynamics of prices in the medium term with the immediate target at 30.00.

Nearest resistance levels: 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65, 44.00

Nearest support levels: 33.00, 32.00, 30.00

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