09.05.2016 - Technical view on commodity futures

The price of gold has resumed decline after an unsuccessful attempt of reaching a strong resistance level at 1300. Overcoming the levels of 1280 and 1265 will be the basis for the continuation of negative dynamics inside the rising channel, to its lower limit and an important level of 1244. The increase in the near future is limited by the level of 1300. Our medium-term outlook remains negative.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095

The price of Light sweet crude oil after a sharp rise yesterday, has resumed the fall and approached the lower boundary of the rising channel. In case of continued negative dynamics and fixing the price below the level of 43.00, we expect further reduction in price to the levels of 40.00 and 37.30. The growth in the near future is limited by the levels of 45.00 and 47.00. Our medium-term outlook remains negative.

Nearest resistance levels: 47.00, 49.00, 50.00, 51.50

Nearest support levels: 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00

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