07.03.2016 - Technical view on commodity futures

The price of gold showed an increase during which reached the level of 1280, but was not able to continue the growth and returned to the level 1265 near which is now consolidated. A further price increase is limited by the level of 1300. In case of renewal of negative dynamics quotations will reach the lower boundary of the rising channel and consolidation below it will confirm the sell signal. Our medium-term outlook remains negative.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil after some consolidation below the level of 36.00, was able to break through it and continue its upward movement. As a result, quotations continued to rise and almost reached the level of 38.00. A further price increase is limited by at the psychologically important mark of 40.00. According to our estimates, at the moment there is a high probability of correction with the potential of the price reduction to 36.00 and 35.00. Our medium-term outlook remains negative.

Nearest resistance levels: 38.00, 40.00, 40.75, 42.00

Nearest support levels: 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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