07.10.2016 - Technical view on commodity futures

The price of gold continued the fall during which has broken the lower boundary of the channel and the level of support at 1260. In case of correction, quotations may return to the levels of 1280 and 1300, as well as the upper boundary of the channel. On the other hand, fixing below the level of 1260 will be the reason for the price reduction to 1244. Our medium-term outlook remains positive, but the current decline may continue in the near future.

Nearest resistance levels: 1280, 1300, 1315, 1330, 1356, 1375, 1400, 1430, 1450

Nearest levels of support: 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil continued to rise after has overcome the psychologically important level of resistance at 50.00. Currently quotes are near the mark of 50.60, fixing above which the will be the basis for continued growth to 52.00 and 54.00. According to our estimates, after strong growth there is a possibility of price decrease within the correction and the signal to sell with the objectives at 48.50, 47.00 and 45.00 will be fixing of price below 50.00. Our medium-term outlook remains negative despite the possible continuation of growth in the short term.

Nearest resistance levels: 50,60, 52,00, 54,00

Nearest support levels: 48,50, 47,00, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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