08.03.2016 - Technical view on commodity futures

The price of gold continues to consolidate near the level of 1265. In case of continued rising dynamics within the channel, quotations will reach the levels 1280 and 1300. In case of correction, the nearest target level will be 1244. The signal about the change of the uptrend to the negative will be fixing of price below 1230. We maintain a medium-term negative view and we believe that the potential for further growth is limited.

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 a minor correction continued to grow and has broken through the important level of 38.00. As a result, prices may continue its upward movement to 40.00. Given the strong growth of the past few weeks, we expect the price correction with potential targets at 35.00, 33.00 and 31.00. Our medium-term outlook remains negative and the current increase is likely to end in the near future.

Nearest resistance levels: 40.00, 40.75, 42.00

Nearest support levels: 38.00, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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