08.06.2016 - Technical view on commodity futures

The price of gold after some consolidation around the level of 1244 continued its growth and may soon reach the level of 1260, the overcoming of which will be the basis for further price increase up to 1280 and 1300. In case of renewal of the negative dynamics quotes will reach the levels 1220 and 1200. Our medium-term outlook remains negative, but in the near future we expect to see saving of the positive dynamics of price.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1220, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095

The price of Light sweet crude oil was able to overcome the strong resistance level at 50.20 and continued growth. In case of saving the rising dynamics, growth will continue until 51.50. According to our estimates, there is a high probability of start of a downward price correction with the first targets at 47.00 and 45.00. We expect a decline in price by 10-15% in the near future.

Nearest resistance levels: 50.20, 51.50

Nearest support levels: 49.00, 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00

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