09.02.2016 - Technical view on commodity futures

The price of gold within the strong upward impulse has been able to reach a strong level of 1200 and at the moment is corrected downwards. In case of continuation of correction, quotations will reach the marks 1165 and 1150. In order to continue the growth, the price needs to overcome the resistance at 1200. In the near future, the fall is likely to continue, but the growth may resume after correction.

Nearest resistance levels: 1190, 1205, 1230, 1244, 1252

Nearest levels of support: 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065, 1050, 1040, 1000

The price of Light sweet crude oil continues to decline gradually within the local descending trend. After reaching the level of 31.00, we can see a small correction, but according to our forecasts, the decline will continue in the near future with potential targets at 30.00 and 28.00. Our medium-term outlook also remains negative.

Nearest resistance levels: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65

Nearest support levels: 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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