07.09.2016 - Technical view on commodity futures
The price of gold has broken through the inclined resistance line and may soon reach the level of 1356, the overcoming of which will be the basis for a further increase to the levels 1375 and 1400. After a strong decline, and considering approaching the resistance at 1356, there is a probability of the beginning of correction to the level of and the return 1330. Our medium-term outlook remains positive.
Nearest resistance levels: 1356, 1375, 1400, 1430, 1450
Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150
The price of Light sweet crude oil rebounded from the lower boundary of the descending channel and may continue the current growth to 46.30 and the upper boundary of the channel. Fixing above this level will be the basis for further growth with the target at 48.50. We anticipate that a drop in prices will continue in the near future with the targets at 43.00 and 40.00. Our medium-term outlook remains negative and we expect saving the high level of volatility.
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